Lebanese Central Bank Sets New Rules for Exchange Offices

The Central Bank of Lebanon has issued Basic Circular No. 6 to regulate currency exchange institutions, outlining licensing requirements, organizational structure, and anti-money laundering and counter-terrorism financing compliance standards. The circular categorizes institutions into different groups and sets minimum capital requirements of 25 million Lebanese pounds for Class A and 10 billion Lebanese pounds for Class B, along with varying annual fees. It also enforces strict rules for customer identification, exchange rate disclosures, record-keeping, and restricts unofficial transfers and dealings with virtual assets. The circular grants extensive supervisory powers, including the ability to impose fines or revoke licenses. It becomes effective upon its publication in the Official Gazette.

articleDetails.fontSize.sizeحجم النص

تنويه: هذا ملخص تم إنشاؤه بواسطة الذكاء الاصطناعي

عرض المقال بالكامل