Using the most general, model independent form of the effective Hamiltonian, the exclusive rare baryonic Lambdab --> Lambdal(+)l(-)(l = mu, tau) decay is analyzed. We study the sensitivity of the branching ratio and lepton forward-backward asymmetry to the new Wilson coefficients. It is shown that these physical quantities are quite sensitive to the new Wilson coefficients. Determination of the position of zero value of the forward-backward asymmetry can serve as a useful tool for establishing new physics beyond the standard model, as well as fixing the sign of the new Wilson coefficients. (C) 2002 Elsevier Science B.V. All rights reserved.