Regulatory Alerts2024-06-27 | 13645Exceptional Measures for the Repayment of Foreign Currency Deposits Constituted after October 31, 2019
The Central Bank of Lebanon has issued Intermediary Decision No. 13645 to amend Base Decision No. 13611 and establish exceptional, gradual repayment measures for foreign currency deposits constituted before June 30, 2023. The decision defines eligible account holders, excludes specific categories such as check traders and large currency converters or loan repayers, and introduces a "Cycle Yearly" framework alongside a "Special Sub-Account" for fund transfers. It mandates that banks operationalize these measures from July 1, 2024, while requiring account holders to submit a standardized declaration form confirming their eligibility and commitment to repay benefited amounts.
Share