Regulatory Alerts2020-05-11 | 13226Exceptional exemptions from banks required investments
The Governor of the Central Bank of Lebanon issued Mediation Decision No. 13221 to amend Decision No. 13217 regarding exceptional exemptions from mandatory reserve requirements and bank investments. The amendment exempts banks in Lebanon from mandatory investments with the Central Bank for funds transferred from abroad or received in foreign currency after April 9, 2020, provided specific conditions are met. These exemptions remain valid even if the fund owner requests conversion to another foreign currency or transfer to another Lebanese bank, provided the transfer is executed through the foreign correspondent bank.
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