Regulatory Alerts2024-02-02 | 13618Issuing of Certificates of Deposit and Banking Certificates, Bonds and Opening of Bank Accounts
The Acting Governor of the Central Bank of Lebanon issued Intermediary Decision No. 13618 on February 2, 2024, amending three foundational decisions that regulate bonds, support and banking certificates, and bank account openings. The decision extends the operational validity of Article Six bis of Basic Decision No. 6856 and Article Twenty of Basic Decision No. 7224 until June 30, 2024, and removes a specific paragraph from Article Four of Basic Decision No. 13100. These amendments take immediate effect upon issuance and are published in the Official Gazette to maintain regulatory continuity for Lebanese banks and financial institutions.
Intermediary Circular No. 691
To Banks and Financial Institutions, and to Supervisory Commissioners
We enclose for your reference Intermediary Decision No. 13618 dated 2/2/2024 concerning the amendment of: a copy of Intermediary Decision No.
- Basic Decision No. 6856 dated 19/12/1997 (Bonds issued by Lebanese Banks and Financial Institutions) attached to Basic Circular No. 36.
- Basic Decision No. 7224 dated 11/2/1999 (System for issuing support certificates and banking certificates) attached to Basic Circular No. 61.
- Basic Decision No. 13100 dated 3/9/2019 (Opening of bank accounts) attached to Basic Circular No. 147.
Beirut, on February 2, 2024
Acting Governor of the Central Bank of Lebanon
Dr. Wissam Mansouri
Intermediary Decision No. 13618
Amendment of Basic Decision No. 6856, Basic Decision No. 7224, and Basic Decision No. 13100
The Acting Governor of the Central Bank of Lebanon, Pursuant to Articles 70 and 174 of the Monetary and Discount Law, And pursuant to Basic Decision No. 6856 dated 19/12/1997 and its amendments concerning bonds issued by Lebanese banks and financial institutions, And pursuant to Basic Decision No. 7224 dated 11/2/1999 and its amendments concerning the system for issuing support certificates and banking certificates, And pursuant to Basic Decision No. 13100 dated 3/9/2019 and its amendments concerning the opening of bank accounts, And pursuant to a decision by the Central Bank Council taken in its meeting held on 2/2/2024,
Has decided as follows:
Article One: The provisions of the following shall remain in force until 30/6/2024: " - Article Six bis of Basic Decision No. 6856 dated 19/12/1997." " - Article Twenty of the system attached to Basic Decision No. 7224 dated 11/2/1999."
Article Two: The text of the paragraph "Secondly, Basic Decision No. 13100 dated 3/9/2019" is deleted from Article Four.
Article Three: This decision shall take effect upon its issuance.
Article Four: This decision shall be published in the Official Gazette.
Beirut, on February 2, 2024
Acting Governor of the Central Bank of Lebanon
Dr. Wissam Mansouri