The Lebanese Central Bank issued on June 7, 2023 intermediate decision 13555 under intermediate circular 669 directed to banks and financial institutions pertaining to electronic settlement operations. In details the circular amends basic circular 165 in order to allow banks to issue LBP denominated checks drawn on their fresh accounts at BDL exclusively designated for the payment of taxes such as VAT, customs and dues to the public sector, provided that the value of each check does not exceed LBP 99 billion. Transfers and clearing of cash funds will become effective on June 12, 2023.

It is worth noting that BDL circular 165 states that banks must open new accounts (in LBP and USD) at BDL, reserved solely to conduct electronic settlement operations on checks and bank transfers pertaining to fresh funds.