Regulatory Alerts2022-02-21 | 13410Central Bank of Lebanon Circular Decision No. 13410 on Electronic Banking and Financial Operations
The Central Bank of Lebanon issued Circular Decision No. 13410 to amend Decision No. 7548 regarding electronic financial and banking operations, specifically reallocating five hundred million Lebanese Lira from the capital of service points operating within or via contracted branches and secondary agents. The decision introduces a new Article 5 bis, granting non-bank electronic cash transfer institutions the right to obtain foreign exchange licenses for purchasing and selling inbound foreign currency, provided their annual external transaction volume remains at least 50 billion LBP. Non-compliant institutions are granted a compliance deadline of June 30, 2022, to regularize their operational status under the amended regulatory framework.
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