Regulatory Alerts2022-12-21 | 13507Exceptional Measures Concerning Cash Withdrawals from Foreign Currency Bank Accounts
The Central Bank of Lebanon, through Interim Decision No. 13507 (Circular No. 654), extends the validity of Basic Decision No. 13221 until June 30, 2023 to maintain exceptional regulatory measures governing cash withdrawals from foreign currency bank accounts. This extension preserves the existing withdrawal limits and procedures established in April 2020 without introducing new restrictions. The decision takes immediate effect upon issuance and is published in the Official Gazette to ensure uniform compliance across all Lebanese banks.
Circular No. 654
To Banks
Enclosed is a copy of Interim Decision No. 13507 dated 2022/12/21 regarding the amendment of Basic Decision No. 13221 dated 2020/4/21 (Exceptional measures concerning cash withdrawals from foreign currency bank accounts) attached to Basic Circular No. 151.
Beirut, on December 21, 2022
Governor of the Central Bank of Lebanon Riad Tawfiq Salamah
Interim Decision No. 13507
Amendment to Basic Decision No. 13221 dated 2020/4/21
The Governor of the Central Bank of Lebanon, Based on the Monetary and Banking Law, particularly Articles 70 and 174 thereof, Based on Basic Decision No. 13221 dated 2020/4/21 and its amendments concerning exceptional measures regarding cash withdrawals from foreign currency accounts, Based on the decision of the Central Bank Council taken in its meeting held on December 21, 2022,
Hereby decides as follows:
Article One: The provisions of Basic Decision No. 13221 dated 2020/4/21 shall remain in force until June 30, 2023.
Article Two: This decision shall take effect upon its issuance.
Article Three: This decision shall be published in the Official Gazette. Beirut, on December 21, 2022
Governor of the Central Bank of Lebanon
Riad Tawfiq Salamah