The Bank of Lebanon (BDL) issued the Decision No.13100 (Basic Circular No.147) of 3 September 2019 (below) concerning the opening of bank accounts. The circular states that by opening a bank account for a physical or legal person residing in Lebanon to carry on commercial, professional or service activities, banks should obtain from the said person a copy of the registration certificate from the Ministry of Finance.
The circular further stipulates that banks should take the necessary measures to update the records of its relevant customers with respect to their accounts opened prior to the date of issuance of said Decision and thus should be provided with a copy of the certificate of registration before the Ministry of Finance.
The Circular also indicates that banks have until the 31st of December 2020 to comply with the new requirements.