Regulatory Alerts2021-06-08 | 13336Investment of Banks in Foreign Currencies at BDL
The Governor of the Central Bank of Lebanon issued Intermediary Decision No. 13336 to amend Fundamental Decision No. 7926 regarding banks' mandatory investments. The decision reduces the statutory percentage specified in Article One of the original 2001 decision by fifteen percent, lowering it to a final rate of fourteen percent. This amendment takes immediate effect upon issuance and is formally published in the Official Gazette following Central Bank Council approval.
Intermediary Circular No. 586 for Banks
We enclose a copy of Intermediary Decision No. 13336 dated June 8, 2021, concerning the amendment of Fundamental Decision No. 7926 dated September 20, 2001 (Banks' Mandatory Investments), attached to Fundamental Circular No. 86.
Beirut, June 8, 2021
Governor of the Central Bank of Lebanon
Riad T. Salam
Intermediary Decision No. 13336
Amending Fundamental Decision No. 7926 dated September 20, 2001
The Governor of the Central Bank of Lebanon, pursuant to Articles 70, 76 (paragraph v), and 174 of the Monetary and Loan Law; pursuant to Fundamental Decision No. 7926 dated September 20, 2001, and its amendments regarding banks' mandatory investments; and pursuant to the decision of the Central Bank Council taken in its meeting held on June 4, 2021,
hereby decides as follows:
Article One: The percentage specified in Article One of Fundamental Decision No. 7926 dated September 20, 2001 is reduced by 15% to become 14%.
Article Two: This decision shall take effect upon its issuance.
Article Three: This decision shall be published in the Official Gazette.
Beirut, June 8, 2021
Governor of the Central Bank of Lebanon
Riad T. Salam