Public Actions

Banque du Liban issues Circular 155 on transfers to Lebanese students studying abroad

Date: 
Wednesday, December 9, 2020

مصرف لبنان

قرار أساسي رقم 13297

تطبيق أحكام القانون رقم 193 تاريخ 2020/10/16 المتعلق بالتحاويل للطلاب اللبنانيين في الخارج

The Lebanese Central Bank issued on December 9, 2020 Basic Circular no. 155 to banks and financial institutions related to law number 193 that addressed the issue of facilitating transfers to Lebanese students studying abroad. In details, the circular requested banks to conform to valid applications by the parents of Lebanese students and to secure the transfers via their liquidity with correspondent banks. In addition, the circular demanded banks to ensure avoiding the misuse of the provisions of the circular by centralizing the information at the Association of Banks in Lebanon, which in its turn can exclusively verify for duplicate transfer applications. In the same vein, each bank must require applicants wishing to benefit from the provisions of the circular to waive their banking secrecy. 

Acting Bodies: 
Banque du Liban (BDL)
Type: 
Resolutions
Categories: 
Economic measures (State budget, rent law, wages...)
Impact: 
National
Status: 
Approved/ Ratified
Civil Society Response: 
Not applicable