Banking sources revealed that after the clarification statement of the Banque du Liban Governor , Riad Salameh, yesterday regarding Circular 158, that all banks, without any exception, will start implementing it, noting that some of them have already started.

Salameh had sent a letter to the President of the Banque du Liban Association, Dr. Salim Sfeir, which included additional clarifications on the implementation of the provisions of Basic Resolution No. 13335 dated 6/8/2021 (Basic Circular No. 158), in conjunction with Book No. 1055/1 dated 06/28/2021.

The letter was attached to a form for lifting banking secrecy, which is required to be signed by the holder of the special branch account without the concerned bank imposing any obligations, conditions, pledges or procedures not stipulated in the said decision in order to benefit its clients from its provisions.