Capital of Money Dealers

Central Bank Circular No. 620
For Exchange Houses (Money Dealers)

Copy of Central Bank Decision No. 13433 dated May 17, 2022 regarding Amendment of Basic Decision No. 10853 dated December 7, 2011 (Determining the Capital of Exchange Houses) attached to Basic Circular No. 4 for Exchange Houses.

Beirut, May 17, 2022
Governor of the Central Bank of Lebanon
Riad T. Salame

Central Bank Decision No. 13433
Amendment of Basic Decision No. 10853 dated December 7, 2011 Regarding the Determination of Capital for Exchange Houses.

The Governor of the Central Bank of Lebanon,
Based on Article 6 of Law No. 347 dated August 6, 2001 concerning the regulation of exchange houses in Lebanon, Based on Basic Decision No. 10853 dated December 7, 2011 concerning the determination of capital for exchange houses, Based on a decision by the Central Council of the Central Bank taken at its meeting held on May 11, 2022, Decides as follows:

Article One: The first article of Basic Decision No. 10853 dated December 7, 2011 is repealed and replaced with the following text:
The minimum capital for exchange houses shall be as set forth in Table 3 of Law No. 347 dated August 6, 2001, as follows:

• 1. Regarding Category (A): Ten billion Lebanese Lira.
• 2. Regarding Category (B): Five billion Lebanese Lira.

Article Two: Exchange houses established prior to the issuance of this Decision are granted a maximum period of one year from its date of issuance to regularize their status and adjust their capital accordingly, upon application by the head of each exchange house and considering the issued license as valid.

Article Three: This Decision takes effect from its date of issuance.

Article Four: This Decision shall be published in the Official Gazette.

Beirut, May 17, 2022
Governor of the Central Bank of Lebanon
Riad T. Salame