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The Lebanese Central Bank issued on September 29, 2021 intermediate decision 13369 under intermediate circular 597 which amends intermediate decision 13335 under basic circular 158 which is directed to banks concerning the gradual payment of foreign currency deposits. In details, intermediate circular 597 stated that the customers (“account holders”) eligible to benefit from the provisions of basic circular 158 are those whose accounts were formed before October 31, 2019. Such accounts could be a joint account that was later converted to an individual account (or vice versa). In addition, the circular noted that an account holder does not benefit from the provisions of BDL intermediate decision 13221 (basic circular 151) as long as he benefits from the provisions of BDL basic circular 158 in the same bank, while he can benefit from said provisions in an account at any other bank. In this vein, the circular added that if a partner of a joint account benefits from the provisions of basic circular 158, the other partner cannot benefit from the provisions of basic circular 151 under the same joint account, noting that he can benefit from these provisions from another account. With regards to employees whose salaries are paid in U.S. dollars, the circular commented that they are eligible to benefit from the provisions of basic circular 151 to withdraw their salaries while also being eligible to benefit from the provisions of basic circular 158. Furthermore, the circular mentioned that account holders are granted until October 31, 2021 the right to open a Special Sub Account in order to benefit from the provisions of basic circular 158 with a retroactive effect for the period starting from July 1, 2021 until the date of the opening of the special sub account, noting that all dues during the concerned period must be paid on the date of the first payment for the months in which the account holder did not benefit from the provisions of basic circular 151.

مصرف لبنان

قرار وسيط رقم 13369 

تعديل القرار الأساسي رقم 13335 تاريخ 2021/6/8

الجريدة الرسمية - العدد 40 - 2021/10/7