Regulatory Alerts2022-12-21 | 13506Exceptional Measures for Cash Withdrawals
The Governor of the Central Bank of Lebanon issued Intermediary Decision No. 13506 to amend Article 4 of Basic Decision No. 13384, extending the validity period of exceptional cash withdrawal measures until January 31, 2023, with provisions for renewal. This amendment applies immediately upon issuance and supersedes the previous expiration date while maintaining all existing withdrawal conditions. The decision was formally adopted during the Central Council's session on December 21, 2022, and is published in the Official Gazette for immediate compliance by all banks.
Intermediary Circular No. 653
To Banks
Ref: 13506 dated 2022/12/21 regarding the amendment of the Basic Decision
We send you a copy of Intermediary Decision No. 13384 dated 2021/12/16 (Exceptional measures for cash withdrawals) attached to Basic Circular No. 161.
Beirut, December 21, 2022
Governor of the Central Bank of Lebanon Riad T. Salamé
Intermediary Decision No. 13506
Amendment of Basic Decision No. 13384 dated 2021/12/16
The Governor of the Central Bank of Lebanon, pursuant to the Monetary and Credit Law, specifically Articles 70 and 174 thereof, and pursuant to Basic Decision No. 13384 dated 2021/12/16 and its amendments regarding exceptional measures for cash withdrawals, and pursuant to his session held on 2022/12/21, based on the decision of the Central Council of the Central Bank taken in
decides as follows:
Article 1: The text of Article 4 of Basic Decision No. 13384 dated 2021/12/16 is repealed and replaced with the following text: « This Decision shall be applied upon its issuance and its conditions shall apply for a period ending on 2023/1/31, renewable. »
Article 2: This Decision shall be applied upon its issuance.
Article 3: This Decision shall be published in the Official Gazette.
Beirut, December 21, 2022
Governor of the Central Bank of Lebanon Riad T. Salamé