Regulatory Alerts2020-04-27 | 13223Added · Updated
Central Bank of Lebanon Circular No. 553: Amendment to the Executive Regulation of Law No. 347/2001 on Money Dealers
The Central Bank of Lebanon issued Circular No. 553 to amend the Executive Regulation of Law No. 347/2001, imposing strict controls on money dealers to protect the Lebanese Lira's exchange rate and social stability amid unexplained currency fluctuations. The regulation mandates that all money dealers must sell US Dollars at a maximum price of 1,507.5 L.L. per Dollar, strictly adhere to the market rate determined by the Central Bank's Special Unit, and maintain standard buying-selling spreads. These measures are enforced under existing legal penalties and remain in effect for six months from the date of issuance.
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