Circular No. 766

For Persons Subject to the Provisions of Articles 183 and 184 of the Code of Money and Credit

"Lending Accounts" (Constatours)

We hereby enclose a copy of Circular Decision No. 13821 dated May 21, 2026, concerning the amendment of the Basic Decision No. 12174 dated January 21, 2016, relating to the conditions for conducting lending operations in accordance with the provisions of Articles 183 and 184 of the Code of Money and Credit, and attached to the Basic Circular No. 2 regarding "Lending Accounts".

Beirut, May 21, 2026 Governor of the Central Bank of Lebanon Karim Saeed

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Circular Decision No. 13821

Amendment of Basic Decision No. 12174 dated January 21, 2016

The Governor of the Central Bank of Lebanon, Pursuant to the Code of Money and Credit, particularly Articles 70, 79, 183, 184, and 200 thereof; And based on Basic Decision No. 12174 dated January 21, 2016, relating to the conditions for conducting lending operations in accordance with Articles 183 and 184 of the Code of Money and Credit; And based on Basic Decision No. 13819 dated May 21, 2026, concerning the conditions for establishing and operating financial institutions; And based on a decision of the Central Council of the Central Bank of Lebanon adopted in its meeting held on May 6, 2026;

Has decided as follows:

Article One: The following text of Recurrent Article 20 is added to Basic Decision No. 12174 dated January 21, 2016:

Recurrent Article 20: First: The submission of applications for obtaining the Knowledge and Experience Permit from the Central Bank of Lebanon to conduct lending operations in accordance with Articles 183 and 184 of the Code of Money and Credit by "Lending Accounts" (Constatours) is suspended until further notice.

Second: Currently operating "Lending Accounts" are granted a maximum deadline of one year to submit their application for conversion into a financial institution in accordance with the provisions of Basic Decision No. 13819 dated May 21, 2026, concerning the conditions for establishing and operating financial institutions, and to provide the Central Bank with the documents specified in said decision, particularly the business plan referred to in Article 10 thereof.

Third: The Knowledge and Experience Permit issued by the Central Bank of Lebanon to any "Lending Accounts" that do not comply with the provisions of the "Second" paragraph of this article is deemed revoked, and they are consequently prohibited from conducting any type of lending operations under the penalty of applying the provisions referred to in the "Fifth" paragraph below.

Fourth: The Central Bank of Lebanon shall study the conversion application and take the appropriate decision regarding approval to convert it into a financial institution or revoke the Knowledge and Experience Permit granted to it. In case of approval, the concerned Constatour is granted a six-month deadline to fully comply with the provisions of Basic Decision No. 13819 dated May 21, 2026, mentioned above. The Central Council may, in exceptional cases and upon a reasoned request from the concerned institution or company, grant this latter an additional deadline to comply with the provisions of the aforementioned Basic Decision.

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Fifth: Upon revocation of the Permit granted to any "Lending Accounts" as stated above, or after the expiration of the deadlines specified in the "Fourth" paragraph above, these Constatours not listed on the register of financial institutions shall no longer have the right to conduct any lending operations, under the penalty of applying Article 200 of the Code of Money and Credit and Article 770 of the Penal Code, and the Central Bank of Lebanon shall resume pursuing any non-compliant institution or company before the competent judicial authority.

Article Two: This decision shall take effect upon its issuance.

Article Three: This decision shall be published in the Official Gazette.

Beirut, May 21, 2026 Governor of the Central Bank of Lebanon Karim Saeed