Regulatory Alerts2025-11-14 | 13769KYC Form for Cash Transactions
Bank of Lebanon issued Basic Decision No. 13769, mandating non-banking financial institutions to implement a standardized Know Your Customer (KYC) framework for cash transactions. The decision establishes a USD 1,000 per-transaction threshold, requires the completion and retention of Forms A1-RF (client profile) and B1-RF (transaction record), and mandates identity verification, source-of-funds determination, and daily electronic reporting. Non-compliance triggers administrative penalties, daily delay fines in US dollars, and potential criminal prosecution under the Penal Code.
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