Regulatory Alerts2020-08-04 | 13253The Application of Law 347 Dated 6/8/2001 concerning the Regulation of Money Dealers, Exceptional Measures Concerning Cash Withdrawals from Small Accounts and Foreign Currency Bank Accounts
The Central Bank of Lebanon issued Decision No. 13253 to amend Basic Decisions Nos. 13215 and 13221, alongside the Executive Regulation of the Money Dealers Profession Law. The decision replaces all references to "the market rate" with "the market rate approved in the electronic platform for money exchange operations" within articles governing exceptional cash withdrawals from small and foreign currency accounts. It repeals corresponding existing provisions to align withdrawal mechanisms with the electronic platform, taking immediate effect upon issuance and official publication.
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