Banque du Liban Basic Circular 151

FAQs | Banque du Liban Basic Circular 151 | Lebanon | Byblos Bank

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Banque du Liban Basic Circular 151

الرجاء الضغط هنا للاطلاع على نص تعميم مصرف لبنان الأساسي رقم 151

الرجاء الضغط هنا للاطلاع على النسخة العربية من الأسئلة المتكررة


 

Banque du Liban (BDL) issued on Tuesday, 21 April 2020, the Basic Circular 151 related to the exceptional measures concerning cash withdrawals from foreign currency bank accounts. Here below are some useful information and clarifications related to this circular.  

 

Which procedure should I follow to withdraw my money and benefit from BDL Basic Circular 151? Do I need to visit the branch in person?
Visiting is not needed at all. You can withdraw your money from any Byblos Bank ATM by following the below steps:
1. Insert your debit card and select “Withdraw LBP at Market Rate” available under all withdrawal menus;
2. Only your USD accounts will be displayed;
3. Select the account and manually enter the amount in LBP;
4. The limit you can withdraw in LBP and the market rate will be displayed on the screen.

 

Click here to watch a step-by-step guide on how to perform your operation on the ATM.

 

If I already benefited from BDL Basic Circular 148, can I benefit from BDL Basic Circular 151 as well?
Yes, you can, on condition that you proceed with Circular 148 first then with Circular 151.

 

What happens if I am eligible for BDL Basic Circular 148, but I only want to benefit from BDL Basic Circular 151?
You have to wait until the expiry date of BDL Basic Circular 148 on Saturday, 3 October 2020, to be able to benefit from Circular 151.

 

Which exchange rate will be applied on my withdrawal/s?
The Bank will apply the market exchange rate effective on the date of withdrawal. This rate will be displayed on the ATM screen and you will be able to clearly see it when performing your withdrawal transaction. Accordingly, this exchange rate will be applied on the conversion of your amount from USD to LBP.

 

If I need to withdraw more cash in LBP than what I am entitled to, will the market exchange rate still apply?
If you want to withdraw more than your displayed limit in LBP on the ATM screen, the official daily rate of the bank will be applied.

 

Can I redeposit the withdrawn money into my LBP account?
Yes, you can perform a Cash Deposit transaction on the ATM.

 

Can I transfer from my LBP account to my USD account to benefit from BDL Basic Circular 151?
No, the circular covers only the money you already have in your USD account/s. However, you can make instant transfers from your USD account to your LBP account at market rate using the Mobile Banking application.
 

Can I make more than one withdrawal operation?
Yes, you can do as many withdrawal transactions as you want as long as you do not exceed your monthly withdrawal limit in LBP.

 

What is my monthly withdrawal limit?

Net worth in foreign currency: Accounts & LD Deposits

          

Amount to withdraw per month

            (Amount in USD)

               From

      (Amount in USD)   

 

                  To

     (Amount in USD)   

  

Including ATM Withdrawals

                       0                 52,000                      1,000
              52,001               103,000                      2,000
            103,001               504,000                      3,000
            504,001                 Above                      4,000

 

Until when can I benefit from BDL Basic Circular 151?
You can benefit until its expiry on 21 October 2020.

 

Will I be charged any fees?
No fees will be applied on any withdrawals related to BDL Basic Circular 151.