Regulatory Alerts2021-05-28 | 13331Facilities that may be granted by BDL to banks and financial institutions
Banque du Liban issued Intermediary Decision No. 11333 on May 28, 2021, amending Basic Decision No. 6116 to modify the facilities granted to banks and financial institutions by revising Article 14 bis. The amendment adjusts import financing caps, limiting individual client benefits to $300,000 per transaction and $5 million in aggregate, while mandating that exporting industrial institutions repatriate all foreign currency earnings to a dedicated fresh account in Lebanon. These provisions are extended for six months, take immediate effect upon issuance, and grant clients full freedom to utilize the repatriated funds for domestic and international banking services.
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