Regulatory Alerts2020-04-09 | 13217Exceptional Exemptions from Banks’ Mandatory Placements
Banque du Liban issued Basic Decision No. 13217, granting banks operating in Lebanon exceptional exemptions from mandatory placements for foreign currency funds received or transferred after April 9, 2020. To qualify, banks must ensure the free use of these funds for banking services and implement specific accounting tracking measures. The decision mandates a 100% cash deposit ratio for parent banks, allows foreign branches exemptions subject to parent coverage, and imposes administrative penalties plus a 15% penalty clause for non-compliance.
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