Regulatory Alerts2022-05-17 | 13437Investment of Banks in Real Estate
The Governor of the Central Bank of Lebanon issued Decision No. 13437 to amend Article Thirteen of the existing Real Estate Investments and Participations System for Banks (Central Decision No. 7462). This amendment repeals the specified article to update regulatory requirements governing bank real estate investments and participations. The decision takes immediate effect upon issuance and is published in the Official Gazette.
Central Bank Circular No. 623
To the Banks
We enclose for your reference Decision No. 13437 dated 17/5/2022 concerning the amendment of a copy of the Central Decision No. 7462 dated 23/11/1999 (System of Real Estate Investments and Participations for Banks) attached to Central Circular No. 65.
Beirut, on 17 May 2022
Governor of the Central Bank of Lebanon
Riad T. Salam
Central Decision No. 13437 Amending Central Decision No. 7462 dated 23/11/1999 concerning the System of Real Estate Investments and Participations for Banks
The Governor of the Central Bank of Lebanon, pursuant to the Monetary and Exchange Law, particularly Articles 70, 153, and 174 thereof, and pursuant to Central Decision No. 7462 dated 23/11/1999 and its amendments concerning the System of Real Estate Investments and Participations for Banks, and pursuant to the decision taken by the Central Bank Council in its meeting held on 11/5/2022,
hereby decides as follows:
Article One: The text of Article Thirteen of the System of Real Estate Investments and Participations for Banks attached to Central Decision No. 7462 dated 23/11/1999 is repealed.
Article Two: This Decision shall take effect upon its issuance.
Article Three: This Decision shall be published in the Official Gazette.
Beirut, on 17 May 2022
Governor of the Central Bank of Lebanon
Riad T. Salam