The Lebanese Central Bank issued on January 20, 2023 intermediate decision 13527 under intermediate circular 658 which amends basic decision 13335 under basic circular 158 directed to banks concerning the gradual payment of foreign currency deposits. In details, the circular stated that banks must allow customers (“account holders”) to withdraw on a monthly basis from their foreign currency accounts that existed before October 30, 2019 $400 in banknotes or via transfer to a fresh account without incurring any direct or indirect commissions or charges of any kind on the transaction, noting that the total amount that can be withdrawn by the customer within a period of one year cannot exceed $4,800. The circular consents the eligible depositor to withdraw as well in LBP banknotes half of the counter value of $400 at the exchange rate of LBP 15,000 per USD and to benefit from the other half either through LBP payments by electronic cards, checks, or transfers for the settlement of due bills. The Lebanese Pounds portion of the eligible monthly amount (i.e. LBP 6 million) will also be exempted from any direct or indirect commissions or charges of any kind. The provisions of intermediate circular 658 will become effective as of February 1, 2023.