Regulatory Alerts2025-05-23 | 13718Electronic Banking and Financial Operations
The Central Bank of Lebanon issued Central Decision No. 13718 to amend Basic Decision No. 7548, establishing comprehensive regulatory requirements for electronic wallet operators regarding licensing timelines, segregated fund management, transaction caps, and risk mitigation. The decision mandates monthly reporting, imposes administrative penalties for non-compliance, and introduces a transitional approval mechanism for pre-licensed entities to evaluate financial capacity. It further strengthens oversight by requiring robust information systems, mandatory insurance coverage for operational and cyber risks, and strict adherence to non-revolving fund movement limits.
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