Regulatory Alerts2020-06-08 | 13232Issuing of Certificates of Deposit & Banking Certificates and Bonds
The Governor of the Central Bank of Lebanon issued Circular Decision No. 13232 to extend until December 30, 2020, the settlement provisions for support loan bonds and negotiable instruments held by custodians, as well as certificates of deposit and banking certificates. This extension applies to the repeated Article Six of Circular Decision No. 6856 and Article Twenty of Circular Decision No. 7224, both amended by Circular Decision No. 13187 dated January 30, 2020. The measure safeguards public interest and ensures the continuous operation of the Central Bank amid current exceptional economic conditions, taking immediate effect upon issuance.
Circular No. 559
To Banks and Financial Institutions And to Supervisory Commissioners
We enclose for your reference, Circular No. 13232 dated 8/6/2020 regarding the amendment: a copy of Circular Decision No.
- Circular Decision No. 6856 dated 19/12/1997 (Bonds Issued by Lebanese Banks and Financial Institutions) attached to Circular Decision No. 36.
- Circular Decision No. 7224 dated 11/2/1999 (System for Issuing Certificates of Deposit and Banking Certificates) attached to Circular Decision No. 61.
Beirut, on June 8, 2020
Governor of the Central Bank
Riad T. Safieh
Circular Decision No. 13232
Amendment of Circular Decision No. 6856 dated 19/12/1997 and Circular Decision No. 7224 dated 11/2/1999
The Governor of the Central Bank, Pursuant to the Monetary and Loan Law, particularly Articles 70 and 174 thereof, and based on Circular Decision No. 6856 dated 19/12/1997 and its amendments regarding bonds issued by Lebanese banks and financial institutions, and based on Circular Decision No. 7224 dated 11/2/1999 and its amendments regarding the system for issuing certificates of deposit and banking certificates, and in safeguarding the public interest under the current exceptional circumstances facing the country, and based on the opinions returned to the Governor aiming to ensure the operation of the Central Bank of Lebanon in accordance with the principle of continuity of public service,
Decides as follows:
Article One: The application of the following provisions is extended until 30/12/2020: " - Article Six repeated from Circular Decision No. 6856 dated 19/12/1997, added by Circular Decision No. 13187 dated 30/1/2020, regarding the settlement of bonds and negotiable instruments representing support loans, deposited with a Custodian in Lebanon.
" - Article Twenty from the system attached to Circular Decision No. 7224 dated 11/2/1999, added by Circular Decision No. 13187 dated 30/1/2020, regarding the settlement of certificates of deposit and banking certificates deposited with a Custodian in Lebanon.
Article Two: This decision takes effect upon its issuance.
Article Three: This decision shall be published in the Official Gazette. Beirut, on June 8, 2020
Governor of the Central Bank
Riad T. Safieh