Regulatory Alerts2025-04-14 | 13717Exceptional Restrictions Relating to Some Banking Operations
The Governor of the Central Bank of Lebanon issued Intermediate Decision No. 13717 on April 14, 2025, amending Basic Decision No. 13353 to modify exceptional restrictions on certain banking operations. The amendment repeals and replaces Item 6 of Article 2, clarifying that banks must obtain prior Central Bank approval before purchasing or selling foreign-currency-denominated assets other than cash funds, including Beirut Stock Exchange shares and Lebanese Treasury bonds. Additionally, Item 7 of Article 2 is fully repealed, while the decision takes immediate effect and is published in the Official Gazette.
Circular No. 734 for Banks and Supervision Delegates
We enclose a copy of Intermediate Decision No. 13717 dated April 14, 2025, concerning the amendment of Basic Decision No. 13353 dated August 17, 2021, concerning exceptional restrictions on certain operations performed by banks, attached to Basic Circular No. 159.
Beirut, April 14, 2025
Governor of the Central Bank of Lebanon Karim N. Said
Intermediate Decision No. 13717 Amending Basic Decision No. 13353 dated August 17, 2021
The Governor of the Central Bank of Lebanon, pursuant to the Monetary and Loan Law, particularly Articles 70 and 174 thereof, based on Basic Decision No. 13353 dated August 17, 2021 and its amendments concerning exceptional restrictions on certain operations performed by banks, and based on the decision of the Central Council of the Central Bank of Lebanon taken in its meeting held on April 9, 2025, hereby decides the following:
Article 1: The text of Item (6) of Article 2 of Basic Decision No. 13353 dated August 17, 2021 is repealed and replaced with the following: "6 - Purchase or sale of any assets, for their own account, in foreign currencies other than 'Cash Funds' (shares listed on the Beirut Stock Exchange and Lebanese Treasury bonds issued in foreign currencies and other assets) prior to obtaining the Central Bank of Lebanon's approval for such."
Article 2: The text of Item (7) of Article 2 of Basic Decision No. 13353 dated August 17, 2021 is repealed.
Article 3: This decision shall take effect upon its issuance.
Article 4: This decision shall be published in the Official Gazette.
Beirut, April 14, 2025
Governor of the Central Bank of Lebanon Karim N. Said