Regulatory Alerts2019-11-26 | 13152Facilities that may be granted by BDL to banks and financial institutions
The Central Bank of Lebanon issued Intermediary Circular No. 13152 to amend Decision No. 6116 regarding foreign exchange facilities for banks and financial institutions. The amendment introduces Article 14-A, allowing banks to request foreign currency exchange operations covering up to 85% of invoices for imported medicines, 50% for medical supplies, and 75% for medical materials used in drug manufacturing, subject to specific documentation and compliance requirements. Banks must verify the exclusive local consumption purpose of these imports, pay a 0.5% commission, and face penalties including special reserve deposits for non-compliance.
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