Central Bank Re-implements Circulars 158 and 166

The Central Bank of Lebanon issued a statement declaring that it has decided, in its session held on June 26, 2024, to renew the implementation of Circulars 158 and 166 for a period of one year, with the possibility of renewal, effective from July 1, 2024.

It further added: "To broaden the scope of beneficiaries, the two circulars have been amended to allow depositors to choose between them in the upcoming period.

Depositors can benefit from Circular No. 166 even if they have previously benefited from Circular No. 185, and they can also benefit from accounts held by minor children."

The statement continued: "Beneficiaries can have access to accounts that are considered a continuation of accounts opened with the same bank before June 30, 2023, under Circular No. 166.

Such accounts include scenarios where a joint account has been converted into an individual account, an individual account has been transformed into a joint account, or accounts that have been transferred to heirs, legatees, or from frozen status to active status."

مصرف لبنان يجدد العمل بالتعميمين 158 و166!