Regulatory Alerts2002-01-11 | 8024Cross-Border Transportation of Cash and Precious Metals
Issued by the Governor of Banque du Liban, Basic Circular No. 89 mandates that Category A exchange offices and banks shipping banknotes and precious metals to and from Lebanon must comply with strict capital, compliance, and internal audit requirements. It requires these institutions to submit detailed monthly reports on cross-border shipments and domestic transfers exceeding USD 10,000 to the Banking Control Commission and the Banking Directorate. The circular enforces anti-money laundering protocols, mandates specialized compliance training, and sets specific deadlines for institutional adaptation.
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