Lebanese Central Bank: Amendments to circulars 166, 147 to broaden range of beneficiaries

Acting Governor of the Lebanese Central Bank, Wassim Mansouri, on Thursday issued a statement announcing key revisions to existing banking regulations aimed at widening access to central bank policies. "In line with the Lebanese Central Bank's policy to expand the range of beneficiaries from its circulars as a first step, the Central Council, in its session yesterday, decided to amend Basic Circular No. 166. All depositors who converted their deposits from Lebanese Pounds to foreign currencies after October 30, 2019, regardless of the amount, are now eligible to benefit from the provisions of the said circular," Mansouri stated. Furthermore, the Central Council adjusted Basic Circular No. 147, obligating banks to accept the return of unused checks issued by them to all accounts. "This will allow depositors to re-credit their funds into their accounts, thereby benefiting from the applicable Central Bank circulars," the statement added. Source: National News Agency - Lebanon