Regulatory Alerts2022-08-29 | 13470Exceptional Measures for Cash Withdrawals
The Governor of the Central Bank of Lebanon issued Interim Decision No. 13470 to amend Article Four of Basic Decision No. 13384, extending the validity period for exceptional cash withdrawal measures until September 30, 2022. The amended provision mandates that the decision takes effect immediately upon issuance and remains renewable until the specified deadline. This extension applies to all licensed banks, thereby maintaining current withdrawal limits and operational frameworks without requiring new regulatory approvals.
Circular No. 639
To the Banks
Ref. No. 13470 dated 29/8/2022 concerning the amendment of Basic Decision No. 13384 dated 16/12/2021 (Exceptional measures for cash withdrawals) attached to Basic Circular No. 161.
Beirut, on 29 August 2022
Governor of the Central Bank of Lebanon
Riad T. Salam
Interim Decision No. 13470
Amending Basic Decision No. 13384 dated 16/12/2021
The Governor of the Central Bank of Lebanon, based on the Monetary and Loan Law, particularly Articles 70 and 174 thereof, and based on Basic Decision No. 13384 dated 16/12/2021 and its amendments concerning exceptional measures for cash withdrawals, and based on the decision of the Central Bank Council taken in its meeting held on 10/8/2022,
hereby decides as follows:
Article One: The text of Article Four of Basic Decision No. 13384 dated 16/12/2021 is repealed and replaced with the following text: « This Decision shall come into force upon its issuance and its conditions shall apply for a period ending on 30/9/2022, renewable. »
Article Two: This Decision shall come into force upon its issuance.
Article Three: This Decision shall be published in the Official Gazette.
Beirut, on 29 August 2022
Governor of the Central Bank of Lebanon
Riad T. Salam