Banking & Finance
What the central bank requires banks to check
Banque du Liban Basic Circular 83 sets anti-money-laundering rules that banks in Lebanon must follow at least. Banks must apply due diligence, including verifying the identity of resident and non-resident customers, before or when opening accounts of all kinds. For a natural person the circular lists a passport, ID card, extract of Civil Status or residence permit as the documents to request. Where due diligence cannot be satisfactorily applied, no account should be opened. It is a floor for banks, not a list of what any particular bank will ask you for.
What the same circular says about customers abroad
Circular 83 also contemplates operations carried out by correspondence. It asks for an official authentication of the customer's signature, and says that verification for a customer living abroad may take place through a correspondent or affiliated bank, a branch or representative office of the bank, or another bank whose authorised signatures can be verified, provided that bank is subject to sound control and the first account-related operation is connected to an account the customer holds at a bank that is also subject to sound control. Non-face-to-face customers are among the indicative customer-risk factors. The circular does not say that any named bank offers remote opening.
Funds sent from abroad after April 2020
Basic Circular 150 exempts banks from certain mandatory placements at the Banque du Liban for funds transferred from abroad, or received as foreign-currency banknotes, after 9 April 2020. One condition of the exemption is the free use of these funds by their owner, including outgoing cross-border transfers, cash withdrawals and bank card services in Lebanon and overseas, subject to the general terms governing dealings with banks and to applicable laws and regulations. Circular 158 refers to fresh accounts as defined in Circular 150. Circular 150 is addressed to banks and does not say that a bank must open an account for a newcomer.
Banque du Liban: Basic Circular No. 150 (Basic Decision No. 13217), Exceptional Exemptions from Banks' Mandatory Placements Banque du Liban: Basic Circular No. 158 (Basic Decision No. 13335), Exceptional Measures for the Gradual Repayment of Foreign Currency Deposits
Older foreign-currency deposits: what Circular 158 covers
Basic Circular 158 concerns the gradual repayment of foreign-currency deposits in accounts opened before 31 October 2019. It covers adult or minor, resident or non-resident natural persons holding such an account, subject to the conditions and exclusions in the text, and the balances it counts exclude those of fresh accounts. An account holder who wants to benefit must ask the bank to open a Special Sub-Account, and the total amount a holder can benefit from at all banks may not exceed USD 54,200. In the consolidated text, withdrawals from the Special Sub-Account are USD 1,000 a month: USD 800 in cash, by outgoing international transfer, by bank cards or into a fresh account, and USD 200 by bank cards at points of sale only; the text says this USD 200 amount may be modified by the Banque du Liban according to its monetary policy. The requirements apply for a modifiable or renewable period ending on 30 June 2027.
Questions before acting
Which documents does the Banque du Liban list for verifying a customer's identity?
Basic Circular 83 lists a passport, ID card, extract of Civil Status or residence permit for a natural person. It sets rules banks must follow at least, so an individual bank may ask for more; confirm with the bank.
Do the Circular 158 withdrawal amounts apply to a newly opened account?
Circular 158 is about foreign-currency deposits in accounts opened prior to 31 October 2019, and it excludes fresh accounts as defined in Circular 150. Funds sent from abroad after 9 April 2020 are addressed in Circular 150, which is an exemption for banks.
Does this confirm that I can open a Lebanese account remotely?
No. Circular 83 contemplates verification by correspondence for customers living abroad, but this review does not establish that any named bank offers remote opening. Ask the bank in writing.
Corrections in this revision
The previous version included statements without sufficient direct support. This revision removes or corrects:
- Statements without direct official support: removed, or replaced with the official rule. Removed figures are not repeated on this page.
Review scope: legal and financial statements in this revised article. Recheck on a provider, professional, immigration or tax-rule change; reuse of dated figures requires a new check.
See recorded sources
- Banque du Liban: Basic Circular No. 83 (Basic Decision No. 7818), Regulations on the Control of Financial and Banking Operations for Fighting Money Laundering and Terrorist Financing — Lebanon - central bank (Banque du Liban); regulation addressed to banks. Basic Decision No. 7818 of 18 May 2001; consolidated English text published on bdl.gov.lb, latest dated amendment found in it: Intermediate Decision No. 13619 of 15 February 2024; file generated 15 July 2026; read 6 Oct 2026
- Banque du Liban: Basic Circular No. 150 (Basic Decision No. 13217), Exceptional Exemptions from Banks' Mandatory Placements — Lebanon - central bank (Banque du Liban); decision addressed to banks. Basic Decision No. 13217 of 9 April 2020; consolidated English text published on bdl.gov.lb, last dated amendment found in it: Intermediate Decision No. 13818 of 8 May 2026; file generated 17 June 2026; read 6 Oct 2026
- Banque du Liban: Basic Circular No. 158 (Basic Decision No. 13335), Exceptional Measures for the Gradual Repayment of Foreign Currency Deposits — Lebanon - central bank (Banque du Liban); decision addressed to banks. Basic Decision No. 13335 of 8 June 2021; consolidated English text published on bdl.gov.lb, last dated amendment found in it: Intermediate Decision No. 13844 of 14 September 2026; file last modified 25 September 2026; read 6 Oct 2026
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About the author
António Mira is the founder of whereTOemigrate. For over a decade he has worked at the intersection of Portuguese real estate and overseas business, helping international clients navigate the cross-border decisions that come with relocating. He sits on the board of CCIAP (Portuguese-Arab Chamber of Commerce), the Portuguese-Saudi Business Council, and the Portugal-Hong Kong Business Association — always with one focus: enabling overseas business and human mobility into and out of Portugal.
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