Regulatory Alerts2020-03-23 | 13213Central Bank of Lebanon Decision No. 13213 Amending Decision No. 6116 on Facilities for Banks and Financial Institutions
The Central Bank of Lebanon issued Decision No. 13213 to authorize banks and financial institutions to grant zero-interest exceptional loans to clients unable to meet obligations for March, April, and May 2020 due to the current crisis. These facilities cover overdue loan installments, employee salaries, and operational needs, with repayment terms extending up to five years and funding provided by the Central Bank in US dollars. Strict compliance, documentation, and a 15% penalty for non-compliance are mandated to ensure the proper execution of these emergency measures.
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