In a currency exchange office in Lebanon, in October 2023. (Credit: Joseph Eid/AFP)
This appears to be more than a simple revision of transfer limits. With Basic Circular No. 13837, dated Aug. 18, 2026, and attached to Basic Circular No. 6, Banque du Liban (BDL, central bank) is undertaking a sweeping overhaul of the foreign exchange sector, covering everything from licensing requirements and relationships with foreign correspondents to capitalization and ownership structures.BDL is seeking to reassert control over intermediaries that have taken over some of the functions once performed by banks since 2019. The aim is not to eliminate the cash economy, but to make its financial flows more traceable. Read more BDL, banks continue to bet on deposit cash-outs at 17 cents on the dollar The new rules repeal six circulars issued between 1998 and 2020 and will take effect upon publication in the Official Gazette. Existing...
This appears to be more than a simple revision of transfer limits. With Basic Circular No. 13837, dated Aug. 18, 2026, and attached to Basic Circular No. 6, Banque du Liban (BDL, central bank) is undertaking a sweeping overhaul of the foreign exchange sector, covering everything from licensing requirements and relationships with foreign correspondents to capitalization and ownership structures.BDL is seeking to reassert control over intermediaries that have taken over some of the functions once performed by banks since 2019. The aim is not to eliminate the cash economy, but to make its financial flows more traceable. Read more BDL, banks continue to bet on deposit cash-outs at 17 cents on the dollar The new rules repeal six circulars issued between 1998 and 2020 and will take effect upon publication in the Official Gazette....