Regulatory Alerts2023-02-22 | 13535Exceptional Measures for Cash Withdrawals
The Governor of the Central Bank of Lebanon issued Intermediary Decision No. 13535 to amend Article Four of Basic Decision No. 13384, extending the validity period for exceptional cash withdrawal measures until March 31, 2023, with renewal options. This amendment applies immediately upon issuance and is grounded in the Monetary and Loan Law (Articles 70 and 174) alongside a Central Council resolution dated February 22, 2023. The decision mandates immediate application of its terms and requires official publication to ensure regulatory compliance across Lebanese banking institutions.
Intermediary Circular No. 663
To Banks
Ref: Intermediary Decision No. 13535 dated 22/2/2023 regarding the amendment of Basic Decision No. 13384 dated 16/12/2021 (Exceptional measures for cash withdrawals) attached to Basic Circular No. 161.
We enclose a copy of the Intermediary Decision No. 13384 dated 16/12/2021 (Exceptional measures for cash withdrawals) attached to Basic Circular No. 161.
Beirut, on 22 February 2023
Governor of the Central Bank of Lebanon Riad T. Salamé
Intermediary Decision No. 13535 Amendment of Basic Decision No. 13384 dated 16/12/2021
The Governor of the Central Bank of Lebanon, pursuant to the Monetary and Loan Law, particularly Articles 70 and 174 thereof, and pursuant to Basic Decision No. 13384 dated 16/12/2021 and its amendments regarding exceptional measures for cash withdrawals, and pursuant to the decision of the Central Council of the Central Bank of Lebanon taken in its meeting held on 22/2/2023,
hereby decides as follows:
Article One: The text of Article Four of Basic Decision No. 13384 dated 16/12/2021 is repealed and replaced with the following text: « This Decision shall be applied upon its issuance and its terms shall apply for a period, ending on 31/3/2023, renewable. »
Article Two: This Decision shall be applied upon its issuance.
Article Three: This Decision shall be published in the Official Gazette.
Beirut, on 22 February 2023
Governor of the Central Bank of Lebanon Riad T. Salamé