Regulatory Alerts2024-06-06 | 13639International Financial Reporting Standard No. 9 (IFRS 9)
The Central Bank of Lebanon issued Circular No. 696 and Decision No. 13639 to amend Basic Decision No. 12713 by repealing the second paragraph of Article Five, thereby updating the regulatory application framework for International Financial Reporting Standard No. 9 (IFRS 9). The amendment aligns Lebanese banking regulations with updated IFRS 9 requirements, mandating immediate compliance for all licensed banks and financial institutions upon the decision's issuance. Published in the Official Gazette, this regulatory update supersedes prior transitional provisions and establishes a unified accounting standard for financial reporting across the sector.
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