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
