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2024-06-27 | 13647

Issuing of Certificates of Deposit and Banking Certificates and Bonds

Bank of Lebanon, through Acting Governor Dr. Wissam Mansouri, issued Intermediary Decision No. 13647 to extend the validity of Article 6 bis of Basic Decision No. 6856 and Article 20 of the system attached to Basic Decision No. 7224 until December 31, 2024. This extension preserves the regulatory framework governing bonds issued by Lebanese banks and financial institutions, alongside the issuance system for support and banking certificates. The decision takes immediate effect upon publication in the Official Gazette, ensuring continuous compliance for financial entities operating under these provisions.

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Lebanon

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Circular No. 700

To Banks and Financial Institutions, and to Supervisory Commissioners

We enclose a copy of Intermediary Decision No. 13647 dated 27/06/2024 regarding the amendment of:

  • Basic Decision No. 6856 dated 19/12/1997 (Bonds that may be issued by Lebanese banks and financial institutions) attached to Basic Circular No. 36.
  • Basic Decision No. 7224 dated 11/02/1999 (System for issuing support certificates and banking certificates) attached to Basic Circular No. 61.

Beirut, 27 June 2024

Acting Governor of Bank of Lebanon

Dr. Wissam Mansouri

Intermediary Decision No. 13647

Amendment of Basic Decision No. 6856 and Basic Decision No. 7224

The Governor of Bank of Lebanon, Pursuant to the Monetary and Banking Law, particularly Articles 17 and 70 thereof, Pursuant to Basic Decision No. 6856 dated 19/12/1997 and its amendments regarding bonds that may be issued by Lebanese banks and financial institutions, Pursuant to Basic Decision No. 7224 dated 11/02/1999 and its amendments regarding the system for issuing support certificates and banking certificates, Pursuant to a decision of the Central Council of Bank of Lebanon taken in its meeting held on 26/06/2024,

Decrees as follows:

Article 1: The provisions of the following shall remain in force until 31/12/2024:

  • "Article 6 bis" of Basic Decision No. 6856 dated 19/12/1997.
  • "Article 20" of the system attached to Basic Decision No. 7224 dated 11/02/1999.

Article 2: This decision shall take effect upon issuance.

Article 3: This decision shall be published in the Official Gazette.

Beirut, 27 June 2024

Acting Governor of Bank of Lebanon

Dr. Wissam Mansouri

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