Regulatory Alerts2018-03-23 | 12774Central Bank of Lebanon Circular No. 489: Amendment of Decision No. 7299 on ATMs and Credit Cards
The Central Bank of Lebanon issued Circular No. 489 to amend Decision No. 7299 regarding ATMs and credit cards. The amendment mandates that banks and financial institutions must prohibit merchants from performing double swipes on POS terminals and requires the adoption of EMV chip technology for all credit and debit cards by June 30, 2019. These measures aim to enhance transaction security and align Lebanese banking practices with international standards.
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