Ensuring Equity in the Repayment of Foreign Currency Deposits

Basic Circular No. 169
To Banks
Attached is a copy of Basic Decision No. 13729 of July 1 st , 2025, on Ensuring Equity in the Repayment of Foreign Currency Deposits. Beirut, July 1 st , 2025 The Governor of the Banque du Liban Karim Souaid

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Basic Decision No. 13729
Ensuring Equity in the Repayment of Foreign Currency Deposits The Governor of the Banque du Liban, Pursuant to the Code of Money and Credit, in particular Articles 70 and 174 thereof; Considering that the banking crisis which erupted in Lebanon in October 2019 has led to restrictions on bank deposits, thereby preventing resident and non-resident depositors alike from freely accessing their funds, in particular those deposited in foreign currencies; Considering that some depositors have requested banks operating in Lebanon to fully and promptly repay their deposits, either in cash or by way of an outgoing cross-border transfer, with some even resorting to foreign jurisdictions to recover their rights; Considering that these claims, which may be valid and legitimate in principle, may not be considered as such during banking crises, as they lead to unfair discrimination among depositors by privileging those having preferential advantages at the expense of the rest of depositors in Lebanon who lack the same preferential treatment, with their deposits remaining fully or partially blocked; Since the Banque du Liban has repeatedly asserted that the principle of equal and fair treatment of all depositors constitutes a fundamental legal rule, and a necessity prompted by financial integrity and public interest, and since it has insisted that any solution to the current crisis must guarantee the respect of the rights of all depositors without discrimination or preference; Considering that the Banque du Liban believes that the systematic execution of selective payments represents a gross breach of the principles of justice, equity, and financial proportionality that should be respected particularly during the current crisis, and that it undermines the foundations of any comprehensive and coordinated solution of the financial crisis; In light of the current exceptional circumstances arising from the ongoing financial crisis, and while awaiting the comprehensive solution being designed in cooperation with the various Lebanese stakeholders; Based on the concept of general necessity and the principle of economic public order; and Pursuant to the powers vested in the Governor to ensure the smooth running of the Banque du Liban, based on the principle of the continued functioning of public utilities,

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Decides the following:
Article 11
: Without prejudice to the provisions of Law No. 283 of 12 April 2022, all banks operating in Lebanon are requested to refrain from repaying, without the BDL’s prior written approval, any amounts exceeding the ceilings specified in the BDL regulatory texts, from the foreign-currency accounts constituted prior to 17 October 2019, whether held at the concerned bank or transferred thereto after that date.
Article 2: This Decision shall come into force upon its issuance.
Article 3: This Decision shall be published in the Official Gazette.
Beirut, July 1 st
, 2025
The Governor of the Banque du Liban
Karim Souaid

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• This Article was amended pursuant to Article 2 of Intermediate Decision No. 13799 of 21 January 2026
  (Intermediate Circular No. 756).