Regulatory Alerts2023-01-20 | 13526Exceptional measures concerning cash withdrawals from foreign currency bank accounts
The Central Bank of Lebanon issued Interim Decision No. 13526 to amend Basic Decision No. 13221, requiring Lebanese banks to settle foreign currency cash withdrawals and transactions into Lebanese Lira at a fixed rate of 15,000 LBP per USD. Effective February 1, 2023, and subject to client consent, banks must process these conversions without any upper monthly limit per account. This directive preserves the operational framework of Basic Decision No. 13217 while guaranteeing continuous Lira liquidity for foreign currency account holders.
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