Regulatory Alerts2019-01-14 | 12978Central Bank of Lebanon Circular No. 514: Amendment of Decision No. 7548 on Electronic Banking and Financial Operations
The Central Bank of Lebanon issued Circular No. 514 to amend Decision No. 7548 regarding electronic financial and banking operations. The amendment introduces Article 7 bis, mandating that all non-banking institutions performing electronic money transfers must exclusively settle incoming foreign transfer values in Lebanese Lira. This decision was adopted by the Central Bank Council on January 9, 2019, and became effective immediately upon issuance.
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