Central Bank of Lebanon Circular No. 699 – Statistical Data on Foreign Electronic Cash Transfers

Circular No. 699
For Banks, Financial Institutions, and Non-Bank Institutions Conducting Foreign Cash Transfers via Electronic Means

We enclose Decision No. 13646 dated 27/6/2024 amending the Basic Decision, a copy of Circular No. 7858 dated 30/6/2001 (Statistical Data) attached to Basic Circular No. 85.

Beirut, on June 27, 2024
Acting Governor of Bank Al-Mahroussin
Dr. Wissam Mansouri

Circular Decision No. 13646
Amending Basic Decision No. 7858 dated 30/6/2001

The Governor of Bank Al-Mahroussin, pursuant to the Monetary and Credit Law, particularly Article 146 thereof, and pursuant to Basic Decision No. 7858 dated 30/6/2001 and its amendments regarding statistical data, and based on the decision of the Central Council of Bank Al-Mahroussin taken in its meeting held on 26/6/2024, hereby decides as follows:

Article One: The numbering of paragraphs "eighth" and "ninth" of the first article of Basic Decision No. 7858 is amended so that they become, respectively, "fourth" and "fifth" of Basic Decision No. 7858 dated 30/6/2001.

Article Two: The following paragraph "sixth" is added to the first article of Basic Decision No. 7858 dated 30/6/2001:
"Sixth: Banks, financial institutions, and non-bank institutions conducting foreign cash transfers via electronic means shall all provide the Statistics and Economic Research Department at Bank Al-Mahroussin with a statement of funds transferred from and to abroad, according to the attached FXM form, on a semi-annual basis."

Article Three: The numbering of items (4), (5), (9), and (10) in the second article of Basic Decision No. 7858 dated 30/6/2001 is amended so that they become, respectively, (3), (4), (5), and (6).

Article Four: The following item (7) is added to the second article of Basic Decision No. 7858 dated 30/6/2001, with the following text:
"7. The statement referred to in paragraph 'sixth' of the first article of this decision shall be sent on a semi-annual basis, within a period of twenty-five (25) days from the end date of the declared period (1/12 and 30/6 of each year), via the dedicated project for electronic submission of statistical reports (eSTR) within the SEBIL system. Exceptionally, data for the year 2018 shall be submitted by July 31, 2024; for 2019 by August 31, 2024; for 2020 by September 30, 2024; for 2021 by October 31, 2024; for 2022 by November 30, 2024; for 2023 by December 31, 2024; and for 2024 by January 31, 2025."

Article Five: This decision shall take effect upon its issuance.
Article Six: This decision shall be published in the Official Gazette.

Beirut, on June 27, 2024
Acting Governor of Bank Al-Mahroussin
Dr. Wissam Mansouri

[FXM Form Section]
Bank Al-Mahroussin (Central Bank of Lebanon)
Statistics and Economic Research Department
Bank No. ............................
Bank Name ............................
Information Period: Semi-annual
FXM Form
Statement of Funds Transferred from and to Abroad (Semi-annual) The Semi-..... of the Year ...

Item Code	Description (Incoming Foreign Currencies)	Description (Outgoing Foreign Currencies)
1000+1200+1300+1400	Number of Transactions (1) @ Equivalent to Thousands of US Dollars	1000
1001	Residents (Lebanese)
1002	Individuals
1100	Expatriates (Account: Special frozen + equivalent to 15% of transferred value)
1102	Abroad according to Circular No. 154 (Article Two, first, 1)
1200	Non-Residents @ Financial Institutions
1201	Abroad according to Circular No. 154 (Article Two, first, 1)
1202	Special account + equivalent to 15% of value of Open Letters of Credit (Circular No. 154, Article Two, first, 2)
1203	Paid or collected credits
1207	Supported sectors
1300	Goods (Article 152 of MCL)
1301	Special account + equivalent to 30% according to Circular No. 154 (Article Two, second)
1302	Provisions/Supplies (Cash advances allocated to cover shortage)
1303	Funds allocated for recapitalization of banks' special funds
1400	Non-governmental institutions (NGOs, etc.)
2000+2100+2200+2300+2400+2500+2900	2000 Non-banking sector
2100	Financial institutions
2200	All institutions
2300	Non-bank transfer institutions
2400	Banks providing services to non-residents
2500	Intermediary institutions
2900	Other institutions
3000+3100+3200	3000 Banking sector
3001	Correspondent banks (Free from any withholding)
3100	Banking sector @ Related
3200	Non-banking sector @ Related
3000 (Sub-item)	Multilateral and bilateral bodies, and multilateral development banks
4000	Financial instruments
4001-4005	Treasury bonds / Certificates of deposit / Shares / Quota shares / Bonds
5000	Funds allocated for recapitalization of banks' special funds (Goods)
8000	Other
9000+1000+2000+3000+4000+5000+8000	9000 Total	Submission of this form to the Statistics Department within 25 days from the end date of the declared period

Note:

• "Statement of Funds" refers to the total financial flows from and to Lebanon during the six months, not the amounts held at the end of the declared period.
  -1: Number of transactions transferring funds from Lebanon.
  -2: Number of transactions transferring funds to Lebanon.
  Numbers appearing in one item must not be repeated in another item.