Regulatory Alerts2023-07-05 | 13563Exceptional Measures for the Gradual Withdrawal of Foreign Currency Deposits
The Central Bank of Lebanon issued Intermediary Decision No. 13563 to amend Basic Decision No. 13335, establishing updated withdrawal limits and mechanisms for foreign currency deposits held in Branch Special Accounts. The revised framework permits monthly withdrawals of $400 for pre-July 2023 transfers and $300 for post-June 2023 transfers, payable in cash, via international transfer, or through domestic and foreign bank cards and new accounts, with annual caps of $4,800 and $3,600 respectively. Furthermore, the decision mandates that banks replenish their 3% foreign liquidity ratio by December 31, 2024, and applies proportionally to joint or affiliated accounts for a renewable one-year term effective July 1, 2023.
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