Banque du Liban Intermediate Circular 547

FAQs | Banque du Liban Intermediate Circular 547 | Lebanon | Byblos Bank

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Banque du Liban Intermediate Circular 547

الرجاء الضغط هنا للاطلاع على تعميم مصرف لبنان الوسيط رقم547

الرجاء الضغط هنا للاطلاع على النسخة العربية من الأسئلة المتكررة

 

Banque du Liban (BDL) issued on Monday, 23 March 2020, Intermediate Circular 547 related to exceptional loans for clients who were not able to pay their bills for the months of March, April, May and June 2020, due to the COVID-19 crisis. Byblos Bank has designed a fully automated process for its eligible clients, who can simply click here to request an exceptional loan.

 

Before logging your request, please take a moment to read the below so you can get useful information and clarifications.

 

Who can benefit from BDL Intermediate Circular 547 aimed at re-scheduling four payments?

The beneficiaries are:
1. Private sector employees, whose income has been affected by the COVID-19 crisis (salary deduction, layoff...) and who have no unpaid bills until the end February 2020. 
2. Businesses or self-employed clients, whose income has been affected by the COVID-19 crisis (closed premises...) and who have no unpaid bills until the end February 2020.

 

Who cannot benefit from BDL Intermediate Circular 547 aimed at re-scheduling four payments?
Employees working in below mentioned sectors whose businesses were not shut down by the government’s complete lockdown measures: 

  • Public sector, security forces, hospitals, pharmacies, bakeries, gas stations, supermarkets and food supply vendors.

 

What types of unpaid payments are covered under BDL Intermediate Circular 547?
All payments related to the different types of commercial and retail loans excluding overdrafts and loans granted against cash collaterals.

 

Are credit cards included under BDL Intermediate Circular 547?
Credit cards are included provided that you do not have unpaid bills related to any other loan(s) at Byblos Bank until the end of February 2020. However, you won’t be able to benefit from this circular if you only hold a credit card with no other loans.

 

Can I benefit from this exceptional loan if I have unpaid bill(s) during or prior to February 2020?
Yes, but you will first have to settle your unpaid bills until the end February 2020, and your loans should not be classified as doubtful (4 or above) as of 29/02/2020.

 

How many bills are covered under BDL Intermediate Circular 547?
This circular allows clients whose income has been affected by the COVID-19 crisis and have no unpaid bills until the end February 2020 to finance their monthly payments of March, April, May and June 2020 over a 5-year period.

 

What are the documents I should provide in order to benefit from the re-scheduling as per BDL Intermediate Circular 547?
Handwritten letter signed by you describing your current employment/revenue situation during COVID-19 crisis, in addition to any document proving how your business/income was affected by the crisis. For employees having their salaries domiciliated at Byblos Bank, please refer to your company’s Human Resources team to coordinate with Byblos Bank’s Corporate Retail Sales team.

 

If only one of the household’s incomes has been affected due to the COVID-19 crisis, can I benefit from this exceptional loan?
Yes, on condition that you submit any document proving that the overall household income was affected.

 

How can I apply for the exceptional loan?
If you are not holding a joint loan, you can simply click here to apply or you will receive an SMS notification to access the re-scheduling page using your Mobile Banking application credentials or your debit card details and do the following:

1. Apply for the exceptional loan (two exceptional loans in case you have LBP and USD loans);
2. Select the reason from a drop-down list;
3. Provide a document proving how your business/income was affected by the crisis; and
4. Digitally approve the loan schedule (two schedules in case of LBP and USD) and a legal text.

 

Can I choose the unpaid loan bills to be re-scheduled?
No, you will receive the summary of all your loans subject to re-scheduling by currency (LBP and/or USD) that you can either approve or reject.

 

Is it mandatory that I visit the branch during COVID-19 lockdown to sign contracts?
Only if you are holding a joint loan or you don’t have our Mobile Banking application or you don’t hold a debit card. Otherwise, you can apply through our website as per the steps described here above.

 

What is the deadline to apply?
You must submit your request by Monday, 15 June 2020. The Bank reserves the right to approve or refuse your request.  

 

After applying on the Bank’s website, will the loan be immediately executed?
No, the loan will be executed after your application is approved by both Byblos Bank and BDL.

 

Will I be charged interest or any other fees on the exceptional loan?
No, the exceptional loan does not bear any interests or any extra charges (file fees, early settlement fees).

 

What is the maximum period allowed to settle the loan?
All loans granted under BDL Intermediate Circular 547 should be repaid over a 5-year period.

 

When do I start making my exceptional loan monthly payments?
As of the end of July 2020, you will resume paying your due payments along with the ones related to the new exceptional loan granted under Intermediate Circular 547.