Regulatory Alerts2020-06-10 | 13236The Electronic Exchange Platform
Bank of Lebanon issued Important Decision No. 13236 mandating all registered currency exchange institutions to conduct foreign currency transactions exclusively through the centralized "Sayrafa" electronic platform. The regulation requires institutions to register dedicated tablets, input daily exchange rates before 9:00 AM, and immediately record all transaction details including customer identification and cash balances directly into the system. Compliance is enforced through mandatory uniform pricing with a maximum 1% margin, real-time monitoring by the Banking Control Commission, and applicable legal and administrative penalties for violations.
Share