Regulatory Alerts2022-01-25 | 13405Opening of Bank Accounts
The Central Bank of Lebanon, through Governor Riad T. Salam, issued Intermediary Decision No. 13405 to amend Basic Decision No. 13100 by mandating that banks must not refuse customer checks deposited into current accounts unless such refusal ensures compliance with anti-money laundering and counter-terrorist financing laws. The amendment renumbers existing provisions, inserts a new Article Five specifying compliance thresholds with Laws No. 44 and 7818, and takes effect immediately upon issuance. This regulatory update standardizes check acceptance procedures across Lebanese banks to prevent arbitrary refusals and ensure equitable treatment of customers.
Share