• LEB CB issued Decision No. 13525 (circular 656) to amend Decision No. 7776 of 2001 relating to credit, investment, shareholding, and participation operations.
• Document dated 20 January 2023 was received from LEB CB on 24 January 2023.

Amendments

• Removed Paragraph 5 of Section 3 Bis of decision 7776, dated 21 February 2001.
• Replaced Paragraph 6 of Section 3 Bis to state, banks and financial institutions in LEB may not accept repayment of loans granted in foreign currencies for nonresidents, including off-shore companies, except from new monies transferred from abroad.

Effectiveness

• Decision is effective as of 1 February 2023, and shall be published in the official gazette.