Regulatory Alerts2024-02-02 | 13615Aid to those affected by the explosion at the Port of Beirut
The Acting Governor of the Central Bank of Lebanon issued Interim Decision No. 13615 to amend Basic Decision No. 13254 regarding aid for those affected by the Port of Beirut explosion. This decision repeals and replaces the introductory text of Item (4) in Article One, establishing that clients may directly agree with banks or financial institutions on the applicable terms. The amended decision takes effect immediately upon issuance and is published in the Official Gazette.
Circular No. 688
For Banks and Financial Institutions
We enclose herewith Circular No. 13615 dated February 2, 2024, concerning the amendment of the Basic Decision. A copy of Interim Decision No. 13254 dated August 6, 2020 (Aid to those affected by the explosion at the Port of Beirut) attached to Basic Circular No. 152 is enclosed.
Beirut, on February 2, 2024
Acting Governor of the Central Bank of Lebanon
Dr. Wissam Mansouri
Interim Decision No. 13615
Basic Decision No. 13254 dated August 6, 2020
The Acting Governor of the Central Bank of Lebanon, pursuant to the Monetary and Credit Law, particularly Articles 70, 79, and 174 thereof, and pursuant to Basic Decision No. 13254 dated August 6, 2020, and its amendments concerning aid to those affected by the explosion at the Port of Beirut, and pursuant to the decision of the Central Bank Council taken in its meeting held on February 2, 2024,
hereby decides the following:
Article One: The text at the beginning of the second paragraph of Item (4) of Article One of Basic Decision No. 13254 dated August 6, 2020 is repealed and replaced with the following text: « The client may agree with the bank or financial institution on: »
Article Two: This Decision shall take effect upon its issuance. Article Three: 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