Regulatory Alerts2022-03-30 | 13425Exceptional Measures for Cash Withdrawals
The Central Bank of Lebanon issued Interim Decision No. 13425 to amend Article Four of its Fundamental Decision No. 13384, extending the validity period for exceptional cash withdrawal measures until April 30, 2022, subject to renewal. This amendment applies immediately upon issuance and mandates publication in the Official Gazette. The decision maintains existing withdrawal conditions while granting banks regulatory flexibility to renew the framework beyond the specified deadline.
Circular No. 618 ـــــــــــــــــــــــــــــــــــ
To Banks
Referring to Interim Decision No. 13425 dated March 30, 2022 regarding the amendment of Fundamental Decision No. 13384 dated December 16, 2021 concerning exceptional measures for cash withdrawals attached to Circular No. 161, we enclose a copy of Interim Decision No.
Beirut, on March 30, 2022
Governor of the Central Bank of Lebanon Riad T. Salam
Interim Decision No. 13425 ــــــــــــــــــــــــــــــــــــــــ Amendment of Fundamental Decision No. 13384 dated December 16, 2021
The Governor of the Central Bank of Lebanon, Pursuant to the Monetary and Banking Law, particularly Articles 70 and 174 thereof; Pursuant to Fundamental Decision No. 13384 dated December 16, 2021 concerning exceptional measures for cash withdrawals; Pursuant to the decision of the Central Bank Council taken in its meeting held on March 30, 2022;
Has decided as follows:
Article One: Article Four of Fundamental Decision No. 13384 dated December 16, 2021 is hereby repealed and replaced with the following text: "This decision takes effect upon its issuance, and its conditions apply for a period ending on April 30, 2022, subject to renewal."
Article Two: This decision takes effect upon its issuance.
Article Three: This decision shall be published in the Official Gazette.
Beirut, on March 30, 2022 Governor of the Central Bank of Lebanon Riad T. Salam