Regulatory Alerts2022-09-30 | 13476Exceptional Measures for Cash Withdrawals
The Governor of the Central Bank of Lebanon issued Circular Decision No. 13476 to amend Article Four of Basic Decision No. 13384, extending the validity period for exceptional cash withdrawal measures until October 31, 2022. This amendment maintains the existing withdrawal conditions and grants them renewability while taking immediate effect upon issuance. The decision was formally adopted by the Central Bank Council on September 28, 2022, and is published in the Official Gazette to ensure regulatory compliance for all Lebanese banks.
Circular Decision No. 641
For Banks
Reference No. 13476, dated September 30, 2022 Concerning the Amendment of the Basic Decision
We submit to you a copy of Circular Decision No. 13476, dated September 30, 2022, concerning the amendment of Basic Decision No. 13384 dated December 16, 2021 (Exceptional Measures for Cash Withdrawals), attached to Circular No. 161.
Beirut, September 30, 2022 Governor of the Central Bank of Lebanon Riad T. Salam
Circular Decision No. 13476
Amendment of Basic Decision No. 13384 dated December 16, 2021
The Governor of the Central Bank of Lebanon, Pursuant to the Monetary and Loan Law, particularly Articles 174 and 70 thereof, Pursuant to Basic Decision No. 13384 dated December 16, 2021 and its amendments concerning Exceptional Measures for Cash Withdrawals, Pursuant to the decision of the Central Bank Council taken in its meeting held on September 28, 2022,
hereby decides as follows:
Article One: The text of Article Four of Basic Decision No. 13384 dated December 16, 2021 is repealed and replaced with the following text:
"This decision takes effect upon its issuance and its conditions apply for a period ending on October 31, 2022, renewable."
Article Two: This decision takes effect upon its issuance.
Article Three: This decision is published in the Official Gazette.
Beirut, September 30, 2022 Governor of the Central Bank of Lebanon Riad T. Salam