In an escalating move, the Governor of the Banque du Liban (BDL), “Karim Saeed,” issued a stern warning to financial institutions and the public, threatening legal prosecution for anyone who violates financial and regulatory rules. This step is an indication of the possibility of taking legal action against entities that were previously considered outside the scope of oversight.
In this regard, the BDL issued Circular No. 972, which was addressed to banks, financial institutions, exchange companies, credit counters, as well as institutions that conduct financial and banking operations online, and to the general public.
The BDL affirmed in the circular that violating any circular issued by it is considered a crime punishable by law under Article 770 of the Lebanese Penal Code. This means that any entity or person who violates these circulars may face legal prosecution.
This circular was issued by the BDL in Beirut on January 7, 2026, and was signed by the Governor of the BDL, “Karim Saeed.”
Article 770 of the Lebanese Penal Code, pertaining to “violation of measures issued by the authority,” stipulates a penalty of imprisonment for up to three months, and a fine ranging between 100,000 and 600,000 Lebanese pounds, or one of these two penalties, for anyone who violates administrative or municipal regulations. Amendments have been made to this article to tighten penalties for violating public regulations.
The importance of this article lies in the fact that it constitutes a general legal framework for criminalizing administrative and regulatory violations that do not have a special penal provision, and are classified within the category of violations and not felonies or misdemeanors.
At the same time, attention is focused on the press conference that the Governor of the BDL will hold tomorrow, where he is expected to announce new legal and judicial measures that the central bank will begin to implement. According to information from sources, the conference will address violations of the “Al-Qard Al-Hasan” institution in light of the circulars issued by the BDL and the financial practices attributed to it.
This development comes amid information about “Al-Qard Al-Hasan” recently reorganizing its activity by launching a company named “Joud,” registered in the commercial registry in Baabda under number 2078233, in a step seen as an attempt to create a formal separation between the institution and direct dealings with individuals, by transferring part of the operations to a new commercial-legal framework.
The Financial Gap Law will also be a key focus of the conference, where Governor “Karim Saeed” is expected to present the BDL’s vision for this law, how to deal with accumulated losses in the financial system, and the distribution of responsibilities between the state, banks, and the central bank, in order to establish a clear legal and financial path for addressing the crisis.
