Regulatory Alerts2019-03-19 | 13032Central Bank of Lebanon Decision No. 13032 Amending Decision No. 6574 on Financial Statements
The Central Bank of Lebanon issued Decision No. 13032 to amend Decision No. 6574, requiring banks and financial institutions to prepare financial statements in accordance with International Financial Reporting Standards (IFRS) effective from the 2018 fiscal year. The regulation mandates the publication of these statements in local media and specifies submission protocols to the Statistics and Research Department via electronic or magnetic media. It further establishes detailed disclosure requirements for off-balance sheet items and mandates clear references to sources for detailed financial information.
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