Exceptional Restrictions Relating to Some Banking Operations

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Circular No. 733
To Banks and Supervisory Authorities

We enclose a copy of Central Decision No. 13716 dated March 27, 2025, concerning the amendment of Basic Decision No. 13353 dated August 17, 2021, concerning exceptional restrictions on certain operations conducted by banks, attached to Basic Circular No. 159.

Beirut, March 27, 2025
Acting Governor of the Central Bank of Lebanon Dr. Wissam Mansouri

Central Decision No. 13716
Amending Basic Decision No. 13353 dated August 17, 2021

The Governor of the Central Bank of Lebanon,
Pursuant to the Monetary and Exchange Law, particularly Articles 70 and 174 thereof, And based on Basic Decision No. 13353 dated August 17, 2021, and its amendments concerning exceptional restrictions on certain operations conducted by banks, And to safeguard depositors' rights and prevent arbitrariness in dealings with them, And based on the resolution of the Central Bank Council adopted during its meeting held on March 12, 2025,

Has decided as follows:

Article One: The text of item (1) of Article Two of Basic Decision No. 13353 dated August 17, 2021 is repealed and replaced with the following text:
« (1) Purchase of foreign currency transactions in the market, in accordance with the provisions of Basic Decision No. 13324 dated May 10, 2021 (Basic Circular No. 157) or from the financial sector or foreign exchange institutions licensed by the Central Bank of Lebanon, in accordance with supply and demand in the market, provided that no spreads between the selling price and buying price or any type of commissions are applied that deviate from established practices, and which do not exceed, in all cases as a maximum limit, 1% of the buying price.»

Article Two: Items (5), (6), and (7) are added to Article Two of Basic Decision No. 13353 dated August 17, 2021, with the following text:
« (5) Sale of foreign currency transactions other than "cash funds", directly or indirectly, to any party other than the Central Bank of Lebanon. (6) Purchase or sale of any assets denominated in foreign currencies (shares listed on the Beirut Stock Exchange, Lebanese Treasury bonds issued in foreign currencies, and other such assets) exclusively in foreign currencies from "cash funds" or their equivalent in Lebanese Lira based on the exchange rate announced on the platform approved by the Central Bank of Lebanon. (7) Sale of Lebanese Treasury bonds in foreign currencies (Eurobonds) abroad, only after obtaining the approval of the Central Bank of Lebanon.» ../..

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Article Three: This decision shall take effect upon its issuance.
Article Four: This decision shall be published in the Official Gazette.

Beirut, March 27, 2025
Acting Governor of the Central Bank of Lebanon Dr. Wissam Mansouri