Regulatory Alerts2020-10-09 | 13283Facilities That May Be Granted by BDL to Banks and Financial Institutions
The Governor of Banque du Liban issued Intermediary Decision No. 13283 on 9 October 2020 to amend Article Fourteen of Basic Decision No. 6116 regarding facilities granted to banks and financial institutions. The amendment mandates that applicants settle the required coverage ratio in Lebanese Lira at a fixed exchange rate of 1507.5 LBP per US Dollar, with banks depositing the funds as cash banknotes at Banque du Liban to secure foreign currency for import operations. This decision takes immediate effect upon issuance and is published in the Official Gazette.
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