Purchase by the BDL of Cash Foreign Currency

1199 Text/ Section 1 No. 149 Date: 31-12-2020 Basic Circular for Banks No. 149 Also addressed to Exchange Houses

We enclose herewith a copy of Basic Decision No. 13216 dated 3/4/2020 concerning the purchase by the Central Bank of Lebanon of cash foreign currencies.

Beirut, on April 3, 2020 Governor of the Central Bank of Lebanon Riad T. Salamé

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Basic Decision No. 13216 Purchase by the Central Bank of Lebanon of Cash Foreign Currencies

The Governor of the Central Bank of Lebanon, having regard to the Monetary and Banking Law, particularly Articles 70 and 83 (paragraph b), which authorize the Central Bank of Lebanon to directly, in exceptional cases and in agreement with the Minister of Finance, purchase foreign currencies from the public and sell them to it, having regard to Law No. 347 dated 6/8/2001 concerning the regulation of the exchange profession in Lebanon, particularly Articles 13 and 19 thereof, having regard to Basic Decision No. 7933 dated 27/9/2001 and its amendments concerning the executive regulation of the law on regulating the exchange profession, and considering the current exceptional circumstances in Lebanon, which have significantly affected the exchange rate of cash foreign currencies, and relying on the powers vested in the Governor to ensure the continuous operation of the Central Bank based on the principle of continuity of public service, decides as follows:

Article One: The Central Bank of Lebanon, in order to secure cash foreign currencies for the needs of the national economy, shall do the following: First: Establish a special unit within the Monetary Operations Department at the Central Bank of Lebanon ("the Unit") responsible for trading cash foreign currencies, particularly the US Dollar, according to market rates. Any exchange institution of Category "A" wishing to trade in cash foreign currencies may apply to this "Unit", subject to the Central Bank of Lebanon's right to select participating institutions.

1201 Text/ Section 1 No. 149 Date: 31-12-2020 Second: Establish an electronic platform comprising the Central Bank of Lebanon, banks, and exchange houses, through which trading prices for cash foreign currencies, particularly the US Dollar, will be announced clearly and transparently.

1 Article One (Repeated): All banks operating in Lebanon are requested to provide the Monetary Operations Department at the Central Bank of Lebanon with the attached table containing:

• Cash balances in Lebanese Lira and foreign currencies.
• Total payments processed via ATMs. The aforementioned table shall be sent daily via electronic mail to: "mhamdan@bdl.gov.lb"

Article Two: The text of "Article Eighteen" of the executive regulation of the law on regulating the exchange profession attached to Basic Decision No. 7933 dated 27/9/2001 is repealed.

Article Three: This decision shall take effect until March 31, 2021.

Article Four: This decision shall be published in the Official Gazette.

Beirut, on April 3, 2020 Governor of the Central Bank of Lebanon Riad T. Salamé

1 - This article was added pursuant to Interim Decision No. 13219 dated April 15, 2020 (Interim Circular No. 550). 2 - The validity of this decision was extended until March 31, 2021 pursuant to Interim Decision No. 13281 dated October 9, 2020 (Interim Circular No. 571), and its initial duration was six months from the date of issuance.

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3 Daily Cash Report

Currency	Balance Today	Previous	Cash Deposits	ATM Withdrawals	Counter Cash Withdrawals	Balance
Lebanese Lira
US Dollar
Euro
British Pound

3 - This table was added pursuant to Interim Decision No. 13219 dated April 15, 2020 (Interim Circular No. 550).