LBP – Lebanese Pound
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Overview The payment processing of this currency is considered to be relatively complex. In addition, please take into account that Individual-to-Individual payments are not permitted.
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Currency Guidelines Besides the standard information, the IBAN format is mandatory (see Appendix VI). Please note that the full beneficiary address is mandatory.
A clear reason / purpose of payment is mandatory and consists of a full written description (in English) of the nature of payment to be provided in the remittance information. For example: providing an invoice number without guiding text is considered as insufficient and can result in errors or delays.
Example: Payment of travel expenses – invoice n° 123456789
All new underlying remitters and beneficiaries (including those active in the Aid and Development Sector such as NGOs...) must be preapproved. Approval will require: 1. Remitter Name(s), 2. Transaction Type /Purpose of Payment, 3. Beneficiary Name(s), 4. Name of beneficiary banks. If available, please also provide: 4. Approximate volumes (annual), 5. Average transfer / ticket sizes (USD equivalent). Further information may be requested on an ad hoc basis. To avoid losses, preapprovals can be done upfront, before instructing the payment. Please contact your Account Manager for more information.
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Instructions, technical guidelines & more -
To consult the Technical Guidelines of this currency, click here
TECHNICAL GUIDELINES -
To consult the Appendix(es) click here
Appendix VI: IBAN Application Rules
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Additional information • Available charge options: OUR
• BEN can only be used for payments greater than LBP 15 000
• Central bank of Lebanon: http://www.bdl.gov.lb/