Central Bank of Lebanon Circular No. 538 Regarding Banks' Status

The Central Bank of Lebanon, through Circular No. 538 issued by Governor Riad Salameh, officially repeals the model annexed to Basic Circular No. 7723 dated December 2, 2000. This decision effectively terminates the previous regulatory framework concerning the status of banks and financial institutions. The circular mandates that this repeal is effective as of January 31, 2020, and requires publication in the Official Gazette.

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Circular No. 538
For Banks, Financial Institutions, and Leasing Companies

Regarding the repeal of Basic Circular No. 7723 dated 2000/12/2 concerning the status of banks

Circular No. 76

Beirut, January 16, 2020

Governor of the Central Bank of Lebanon
Riad Salameh

Decision No. 13181
Repeal of Basic Circular No. 7723 dated 2000/12/2

The Governor of the Central Bank of Lebanon,

Having regard to the Law on Banks and Credit, particularly Articles 146 and 174 thereof;

Having regard to Basic Circular No. 7723 dated 2000/12/2 and its amendments concerning the status of Banks;

Having regard to the request for the continuation of the status;

Having regard to the powers vested in the Governor to ensure the stability of the Central Bank of Lebanon as a public institution;

Decides as follows:

Article 1: The annex to Basic Circular No. 7723 dated 2000/12/2 is hereby repealed.

Article 2: This Decision shall be effective as of the suspended status date of 2020/1/31.

Article 3: This Decision shall be published in the Official Gazette.

Beirut, January 16, 2020

Governor of the Central Bank of Lebanon
Riad Salameh

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Lineage: In force

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This document supersedes: Central Bank of Lebanon Basic Decision No. 7723 on Bank Status

Source: Banque du Liban — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works