Certificates of Deposit, Banking Certificates, Bonds, Foreign Currency Accounts at BDL, and Bank Account Opening

Circular No. 628

For Banks and Financial Institutions and Supervisory Commissioners

Attached please find a copy of Circular Decision No. 13449 dated 21/6/2022 regarding the amendment of:

• Fundamental Decision No. 5258 dated 17/9/1993 (Opening accounts and deposits in foreign currency at Banque du Liban) attached to Fundamental Circular No. 14.
• Fundamental Decision No. 6856 dated 19/12/1997 (Debt securities that may be issued by Lebanese banks and financial institutions) attached to Fundamental Circular No. 36.
• Fundamental Decision No. 7224 dated 11/2/1999 (System for issuing certificates of deposit and banking certificates) attached to Fundamental Circular No. 61.
• Fundamental Decision No. 7534 dated 2/3/2000 (Issuance of banking certificates of deposit by Banque du Liban) attached to Fundamental Circular No. 67.
• Fundamental Decision No. 13100 dated 3/9/2019 (Opening bank accounts) attached to Fundamental Circular No. 147.

Beirut, 21 June 2022

Governor of Banque du Liban

Riad T. Safre

Circular Decision No. 13449

Amending Fundamental Decision No. 5258, Fundamental Decision No. 6856, Fundamental Decision No. 7224, Fundamental Decision No. 7534, and Fundamental Decision No. 13100

The Governor of Banque du Liban, pursuant to the Monetary and Loan Law, particularly Articles 174 and 70 thereof, pursuant to Fundamental Decision No. 5258 dated 17/9/1993 and its amendments regarding the opening of accounts and deposits in foreign currency at Banque du Liban, pursuant to Fundamental Decision No. 6856 dated 19/12/1997 and its amendments regarding debt securities that may be issued by Lebanese banks and financial institutions, pursuant to Fundamental Decision No. 7224 dated 11/2/1999 and its amendments regarding the system for issuing certificates of deposit and banking certificates, pursuant to Fundamental Decision No. 7534 dated 2/3/2000 and its amendments regarding the issuance of banking certificates of deposit by Banque du Liban, pursuant to Fundamental Decision No. 13100 dated 3/9/2019 and its amendments regarding the opening of bank accounts, pursuant to the decision of the Central Council of Banque du Liban taken during its meeting held on 16/6/2022,

hereby decides as follows:

Article One: The provisions of the following shall be extended until 31/12/2022:

• "Article Four bis" of Fundamental Decision No. 5258 dated 17/9/1993, added by Circular Decision No. 13157 dated 4/12/2019.
• "Article Six bis" of Fundamental Decision No. 6856 dated 19/12/1997, added by Circular Decision No. 13187 dated 30/1/2020.
• "Article Twenty" of the system attached to Fundamental Decision No. 7224 dated 11/2/1999, added by Circular Decision No. 13187 dated 30/1/2020.
• "Article Six bis" of Fundamental Decision No. 7534 dated 2/3/2000, added by Circular Decision No. 13157 dated 4/12/2019.
• "Article Four" of Fundamental Decision No. 13100 dated 3/9/2019, added by Circular Decision No. 13157 dated 4/12/2019 and amended by Circular Decision No. 13195 dated 13/2/2020.

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Article Two: This Decision shall take effect upon its issuance.

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

Beirut, 21 June 2022

Governor of Banque du Liban

Riad T. Safre