Central Bank of Lebanon Circular 151

Lebanon Central Bank

Note: This version does not include the amendments of Intermediate Circular No. 572

of October 9, 2020

BANQUE DU LIBAN

Basic Circular No 151 Addressed to Banks

Attached is a copy of Basic Decision No 13221 of 21 April 2020, relating to Exceptional

Measures for Cash Withdrawals from Foreign Currency Bank Accounts.

Beirut, 21 April 2020

The Governor of Banque du Liban

Riad Toufic Salamé

Basic Decision No 13221

Exceptional Measures for Cash Withdrawals from Foreign Currency Bank Accounts

The Governor of Banque du Liban,

Pursuant to the Code of Money and Credit, particularly Articles 70 and 174 thereof;

In order to preserve public interest under the exceptional circumstances prevailing in

the country; and

Pursuant to the powers vested in the Governor to ensure the smooth running of Banque

du Liban, based on the principle of the continued functioning of public utilities,

Decides the following:

Article 1:

In case customers not benefiting from the provisions of Basic Decision No

13215 of 3 April 2020 request to perform cash withdrawals or cash

transactions from their accounts or receivables in US Dollar or in other foreign

currencies, banks operating in Lebanon shall be provided they obtain the

approval of the concerned customer, settle the equivalent of the requested

amount in Lebanese pound at market rate and in accordance with the measures

and limits adopted by the concerned bank.

 

Article 2:

Each bank shall announce, on a daily basis, its applied market rate.

 

Article 3:

The concerned bank must sell to Banque du Liban the foreign currencies

resulting from the operations mentioned in Article 1 above.

 

Article 4:

All other operations performed by banks with their customers in US Dollar

shall remain subject to the exchange rate set by Banque du Liban for its

operations with banks.

 

Article 5:

This Decision shall come into force upon its publication date and remain

effective for six months.

 

Article 6:

This Decision shall be published in the Official Gazette.

 

Beirut, 21 April 2020

The Governor of Banque du Liban

Riad Toufic Salamé

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