Regulatory Alerts2024-06-27 | 13644Exceptional measures for the gradual withdrawal of deposits in foreign currencies
Bank of Lebanon, through Acting Governor Dr. Wissam Mansouri, issued Intermediary Decision No. 13644 to amend Base Decision No. 13335 regarding the exceptional measures for gradually withdrawing foreign currency deposits. The decision revises Article One to aggregate all creditor accounts in foreign currencies established before October 31, 2019, and clarifies Article Two to restrict dual benefits for joint account holders within the Annual Cycle while preserving their rights to other accounts. Furthermore, it extends banks' authority to utilize external liquidity within the 3% ratio up to December 31, 2025, and validates the Special Sub-Account for fund conversion effective July 1, 2024.
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