Facilities that may be granted by BDL to banks and financial institutions, Aid to those affected by the explosion at the Port of Beirut, and Exceptional restrictions relating to some banking operations

Intermediary Circular No. 661
To Banks and Financial Institutions

We enclose a copy of Intermediary Decision No. 13531 dated January 31, 2023, concerning the amendment of:

• Basic Decision No. 6116 dated March 7, 1996 (Facilities that may be granted by Banque du Liban to Banks and Financial Institutions) attached to Basic Circular No. 23.
• Basic Decision No. 13254 dated August 6, 2020 (Aid to those affected by the explosion at the Port of Beirut) attached to Basic Circular No. 152.
• Basic Decision No. 13353 dated August 17, 2021 (Exceptional restrictions relating to some banking operations) attached to Basic Circular No. 159.

Beirut, on January 31, 2023
Governor of Banque du Liban
Riad T. Salamé

Intermediary Decision No. 13531
Amending Basic Decision No. 6116 dated March 7, 1996 and Basic Decision No. 13254 dated August 6, 2020 and Basic Decision No. 13353 dated August 17, 2021

The Governor of Banque du Liban, pursuant to the Monetary and Loan Law, particularly Articles 70, 79, and 174 thereof, and pursuant to Basic Decision No. 6116 dated March 7, 1996 and its amendments concerning the facilities that may be granted by Banque du Liban to banks and financial institutions, and pursuant to Basic Decision No. 13254 dated August 6, 2020 and its amendments concerning aid to those affected by the explosion at the Port of Beirut, and pursuant to Basic Decision No. 13353 dated August 17, 2021 and its amendments concerning exceptional restrictions on some operations carried out by banks, and pursuant to the decision of the Central Council of Banque du Liban taken in its meeting held on January 18, 2023,

hereby decides as follows:

Article One: The text of "Article Fourteen" of Basic Decision No. 6116 dated March 7, 1996 is repealed.

Article Two: The text of the beginning of the second paragraph of Item (4) of Article One of Basic Decision No. 13254 dated August 6, 2020 is repealed and replaced with the following text:
"The exceptional loan granted to the client may be repaid in Lebanese Lira according to the exchange rate applied in Banque du Liban’s transactions with banks, representing an average value of (currently 1,500 Lebanese Lira per one US Dollar), and the client may agree with the bank or financial institution on:"

Article Three: The text of Item (3) of Article Two of Basic Decision No. 13353 dated August 17, 2021 is repealed and replaced with the following text:
3. "The trading in foreign currencies, other than 'new money', with clients is only according to the rate specified in Basic Decision No. 13221 dated April 21, 2020 (Basic Circular No. 151)."

Article Four: This decision shall take effect as of February 1, 2023.
Article Five: This decision shall be published in the Official Gazette.

Beirut, on January 31, 2023
Governor of Banque du Liban
Riad T. Salamé