Regulatory Alerts2022-07-27 | 13464Exceptional Measures Concerning Cash Withdrawals from Foreign Currency Bank Accounts
The Central Bank of Lebanon issued Circular No. 636 and Central Board Decision No. 13464 on July 27, 2022 to amend Decision No. 13221 regarding exceptional cash withdrawal measures for foreign currency accounts. The amendment repeals and replaces the previous reporting requirement, mandating that banks monthly notify the Banking Control Commission of the foreign currency value generated from operations specified in Article 1. This measure aims to strengthen banks' foreign currency liquidity to better meet client and depositor needs, taking immediate effect upon issuance.
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