Regulatory Alerts1999-06-10 | 7299ATMs, Credit and Debit Cards
Banque du Liban issued Basic Decision No. 7299 to comprehensively regulate the installation, operation, security standards, and reporting requirements for ATMs and the issuance, acquiring, and processing of credit and debit cards in Lebanon. The decision mandates strict technical safeguards for ATMs, establishes licensing, capital, and liquidity conditions for financial institutions offering card services, and enforces EMV chip-and-PIN technology alongside PCI DSS compliance. It further prohibits most prepaid card issuances, requires monthly statistical reporting via standardized forms, mandates local clearing and settlement within specified deadlines, and strengthens anti-money laundering and consumer protection measures across the payment ecosystem.