The Governor of the Banque du Liban issued two intermediate circulars, the first bearing No. 673, and related to the amendment of Basic Decision No. 13221 dated 4/21/2020 (exceptional procedures regarding cash withdrawals from accounts in foreign currencies), attached to Basic Circular No. 151.
The amendment of Circular 151 was limited to extending its work until the end of the year (31-12-2023), provided that withdrawals from bank accounts denominated in dollars continue on the basis of a price of 15,000 pounds per dollar, and that monthly withdrawals do not exceed 1,600 dollars per account.
The second decision bore No. 674, and relates to the amendment of Basic Decision No. 13335 dated 6/8/2021 (exceptional measures for the gradual payment of deposits in foreign currencies), attached to Basic Circular No. 158.
As for the amendment of Circular 158, the withdrawal process in Lebanese pounds has stopped, provided that the withdrawal process in dollars in cash continues. Meaning that the beneficiary of Circular 158 will continue to withdraw 400 dollars per month without withdrawing 400 dollars in pounds at the price of 15,000 pounds per dollar.
As for those who intend to benefit from Circular 158 after the date of July 1, 2023, they will be able to withdraw $300, not $400, in cash per month, provided that the ceiling of their withdrawals does not exceed $3,600 annually.
2023-07-05 15:26:05
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