RegAlert
2021-12-23 | 13391

Added · Updated

Exceptional Restrictions Relating to Some Banking Operations

The Governor of the Central Bank of Lebanon issued Decision No. 13391 to amend Basic Decision No. 13353 by updating the reference rate for foreign currency trading with clients, excluding new funds, to 1,507.5 Lebanese Lira per US Dollar and aligning it with rates established in Decisions 13221 and 13356. The amendment mandates that banks conduct foreign currency transactions solely in accordance with this updated reference rate, at its value and cost. This decision takes effect immediately upon issuance and is published in the Official Gazette to enforce the exceptional restrictions on specified banking operations.

Banque du Liban logo

Lebanon

Banque du Liban

Scan of the document's first page
Share

BDL published 4 documents in the last 30 days — get each new one by email the day it lands.

Central Bank Circular No. 608
To Banks

Enclosed copy: We hereby enclose, in reference to Central Bank Decision No. 13391 dated December 23, 2021, amending Basic Decision No. 13353 dated August 17, 2021, regarding exceptional restrictions on certain operations conducted by banks, attached to Basic Circular No. 159.

Beirut, December 23, 2021
Governor of the Central Bank of Lebanon
Riad T. Salaméh

Central Bank Decision No. 13391
Amending Basic Decision No. 13353 dated August 17, 2021

The Governor of the Central Bank of Lebanon,
Pursuant to the Monetary and Banking Law, particularly Articles 70 and 174 thereof, Pursuant to Basic Decision No. 13353 dated August 17, 2021, regarding exceptional restrictions on certain operations conducted by banks, And pursuant to the decision of the Central Council of the Central Bank of Lebanon adopted in its meeting held on December 22, 2021, Decrees as follows:

Article 1: The following paragraph (3) is added to Article 2 of Basic Decision No. 13353 dated August 17, 2021:
"3. Foreign currency trading, other than 'new funds', with clients, solely in accordance with:

  • The Central Bank's reference rate in its dealings with banks, at its value and cost (currently 1,507.5 Lebanese Lira per US Dollar).
  • The rate specified in Basic Decision No. 13221 dated April 21, 2020 (Basic Circular No. 151) for the purpose of applying its provisions.
  • The rate specified in Basic Decision No. 13356 dated June 8, 2021 (Basic Circular No. 158) for the purpose of applying its provisions."

Article 2: This Decision shall take effect upon issuance.
Article 3: This Decision shall be published in the Official Gazette.

Beirut, December 23, 2021
Governor of the Central Bank of Lebanon
Riad T. Salaméh

Read the rest free

Lineage: In force

Decision No. 13391 dated 2021-1…Decision No. 13391 dated 2021-12-23Exceptional Measures for Cash W…2020Exceptional Measures for Cash Withdrawals from Foreign-Currency Accounts (2020-04-21)Exceptional Restrictions on Som…2021Exceptional Restrictions on Some Operations Performed by Banks (2021-08-17)Exceptional RestrictionsRelating to Some Banking Oper…2021-12-23 · this documentExceptional Restrictions Relating to Some Banking Operations (2021-12-23)
amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Timeline

This document amends: Exceptional Restrictions on Some Operations Performed by Banks

Source: Banque du Liban — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

More like this from BDL

BDL published 4 documents in the last 30 days. We email you each new one the day it's published.

Topics
fx

FX rules change often. Get an email the day any regulator we track changes its foreign-exchange rules.