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2024-12-17 | 13682

Certificates of Deposit Issued by Banque du Liban, Issuing of Certificates of Deposit & Banking Certificates, Bonds and Accounts Held in Foreign Currencies at BDL

Banque du Liban, through Acting Governor Dr. Wissam Al Mansour, issued Interim Decision No. 13682 (Circular No. 719) to extend the validity of key provisions across four foundational regulatory decisions until June 30, 2025. The extension specifically preserves the legal frameworks for foreign currency deposit accounts at BDL, bonds issued by Lebanese banks and financial institutions, and the issuance systems for certificates of deposit and banking certificates. This regulatory measure ensures uninterrupted operational continuity and legal compliance for financial institutions managing foreign currency instruments without requiring immediate legislative renewal.

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Circular No. 719

To Banks and Financial Institutions, and to Supervisory Commissioners

We enclose a copy of Interim Decision No. 13682 dated 2024/12/17 concerning the amendment of:

  • The Basic Decision No. 5258 dated 1993/9/17 (Opening foreign currency deposit accounts at Banque du Liban) attached to Basic Circular No. 14
  • The Basic Decision No. 6856 dated 1997/12/19 (Bonds that may be issued by Lebanese banks and financial institutions) attached to Basic Circular No. 36
  • The Basic Decision No. 7224 dated 1999/2/11 (System for issuing certificates of deposit and banking certificates) attached to Basic Circular No. 61
  • The Basic Decision No. 7534 dated 2000/3/2 (Issuance of banking certificates of deposit by Banque du Liban) attached to Basic Circular No. 67

Beirut, on December 17, 2024

Governor of Banque du Liban Acting

Dr. Wissam Al Mansour

Interim Decision No. 13682

Amendment of Basic Decision No. 5258 and Basic Decision No. 6856 and Basic Decision No. 7224 and Basic Decision No. 7534

The Governor of Banque du Liban, pursuant to the Monetary and Discount Law, particularly Articles 70 and 174 thereof, and pursuant to Basic Decision No. 5258 dated 1993/9/17 and its amendments concerning the opening of foreign currency deposit accounts at Banque du Liban, and pursuant to Basic Decision No. 6856 dated 1997/12/19 and its amendments concerning bonds that may be issued by Lebanese banks and financial institutions, and pursuant to Basic Decision No. 7224 dated 1999/2/11 and its amendments concerning the system for issuing certificates of deposit and banking certificates, and pursuant to Basic Decision No. 7534 dated 2000/3/2 and its amendments concerning the issuance of banking certificates of deposit by Banque du Liban, and pursuant to a decision of the Central Council of Banque du Liban taken in its meeting held on 2024/12/16

It has been decided as follows:

Article One: The provisions of each of the following shall remain in force until 2025/6/30:

  • "Article 4 bis" of Basic Decision No. 5258 dated 1993/9/17
  • "Article 6 bis" of Basic Decision No. 6856 dated 1997/12/19
  • "Article 20" of the System attached to Basic Decision No. 7224 dated 1999/2/11
  • "Article 6 bis" of Basic Decision No. 7534 dated 2000/3/2

Article Two: This Decision shall be effective upon its issuance.

Article Three: This Decision shall be published in the Official Gazette.

Beirut, on December 17, 2024 Governor of Banque du Liban Acting

Dr. Wissam Al Mansour

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