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/transfer my money and benefit from BDL Basic Circular 151? Do I need to visit the branch in person?
Visiting the branch is not needed at all. You just need to follow the below steps on our Mobile Banking application to be able to withdraw your money from any Byblos Bank ATM:

1. Log in to the Byblos Bank Mobile application using your credentials
2. Select Transfers menu then “Money transfer at market rate” 
3. Choose your eligible USD account in the “From” drop-down menu
4. Choose your eligible LBP account in the “To” drop-down menu
5. Choose the currency of the transfer amount (LBP or USD)
6. Wait for the confirmation screen and double check Transfer Details including the amount to be transferred, from and to accounts, new account balances, and market exchange rate 
7. Click Confirm to submit your transfer
8. Perform a regular cash withdrawal transaction from your LBP account at any Byblos Bank ATM

 

If I already benefited from BDL Basic Circular 148, can I benefit from BDL Basic Circular 151 as well?
Yes, you can, knowing that Circular 148 has already expired.

 

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Can I redeposit the withdrawn money into my LBP account?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 daily, weekly, and monthly withdrawal limits in LBP.

 

What are my withdrawal amounts?

     Amount to withdraw (in USD)
 Net worth in foreign currency: Accounts & LD deposits

   Per Day    Per Week    Per Month
52,000     500    500   1,000 
52,001  103,000    1,000    1,000    2,000
103,001  504,000    1,500    1,500    3,000
504,001  Above    2,000    2,000    4,000

 

 Until when can I benefit from BDL Basic Circular 151?

 You can benefit until its expiry on 31 March 2021.

 

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