Regulatory Alerts2020-06-03
Added · Updated
Circular to Licensed Banks Regarding Bounced Checks for Financial Reasons During the Suspension Period
The Central Bank of Lebanon mandates that licensed banks calculate grace periods for bounced checks using calendar days rather than business days during three specific intervals between February 26 and May 21, 2020. Banks are prohibited from collecting check return fees for financial reasons during the pandemic suspension period, though fees may be charged if the customer fails to settle the check by the final deadline. Licensed banks must report these bounced checks by October 31, 2020, and standard returned checks instructions resume on May 26, 2020.
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