Regulatory Alerts2020-08-26 | 13260Operations Relating to Credit, Investment and Shareholding and Participation
The Governor of the Central Bank of Lebanon issued Decision No. 13260 to amend Basal Decision No. 7776, permitting non-resident clients to settle retail loan installments in Lebanese Lira at a specified rate of 1507.5, provided they hold a foreign currency account and their residential and other retail loans remain within 800,000 USD and 100,000 USD caps respectively. The amendment further prohibits non-residents from settling foreign-currency retail loans using new funds transferred from abroad. All other facilities and commercial loans remain governed by their original contractual terms regarding repayment currency.
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