Title: Renewal of Circular No. 158 with Amendments

The Central Bank of Lebanon has renewed Circular No. 158 through Intermediate Circular No. 626 addressed to banks (Exceptional Procedures for Gradual Settlement of Foreign Currency Deposits). Under the renewal of Circular 158, the central bank has amended some clauses, allowing depositors to use the $400 that they are entitled to utilize only on the card at an exchange rate of 12,000 L.L. to pay certain taxes, fees, and bills, such as electricity. Additionally, the Central Bank of Lebanon has extended the implementation of Circular 151 (Exceptional Procedures for Cash Withdrawals from Foreign Currency Accounts) until the end of December 31, 2022.