Regulatory Alerts2021-09-02 | 13359Circular No. 594 on the Amendment of Basic Decision No. 12713 Regarding International Financial Reporting Standard No. 9 (IFRS 9)
The Governor of the Central Bank of Lebanon issued Circular Decision No. 13359 to extend the implementation deadlines for Sections "First" and "Fourth" of Article Seven under Basic Decision No. 12713 until December 31, 2021. This amendment aligns the application timeline for International Financial Reporting Standard No. 9 (IFRS 9) with recent monetary and banking laws, including the Suspension of Statutes Laws Nos. 199 and 237. The decision takes immediate effect upon issuance and is formally published in the Official Gazette to ensure compliance across all regulated banks, financial institutions, and supervisory agents.
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