Regulatory Alerts2023-11-17 | 13592Added · Updated
Exceptional Measures for the Gradual Withdrawal of Deposits in Foreign Currencies
Banque du Liban issued Intermediary Decision No. 13592 to amend Basic Decision No. 13335, establishing exceptional retroactive measures for the gradual withdrawal of foreign currency deposits. The decision allows account holders who transferred funds between Lebanese banks before October 31, 2019, to reclaim up to USD 50,000 by reopening Haldi accounts and waiving banking secrecy. It mandates specific calculation methods for transferred balances, imposes compliance and documentation requirements on banks, and ensures the special sub-accounts remain non-interest-bearing while exempt from fees.
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