Regulatory Alerts2020-02-13 | 13195Opening of Bank Accounts
The Governor of the Central Bank of Lebanon issued Mediator Decision No. 13195 to amend the basic decision regarding the opening of bank accounts. The regulation imposes maximum interest rate caps on deposits in both foreign currencies and Lebanese Lira, effective from February 2, 2020. Additionally, banks are required to reflect these reduced interest rates in the calculation of the Beirut Interbank Offered Rate (BRR).
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