Regulatory Alerts2022-10-12 | 13486Banks’ Operational Expenses
The Governor of Bank of Lebanon, pursuant to Basic Decision No. 13486 dated 12 October 2022, mandates all Lebanese banks to submit monthly declarations to the Banking Control Commission detailing operational expenses paid or payable from new funds since 1 January 2022, along with their funding sources and coverage mechanisms. Banks must provide these statements within ten days of each month’s end, with a one-time submission for pre-October 2022 periods by 31 October 2022. The Banking Control Commission is authorized to issue implementing instructions, and the decision takes immediate effect upon publication in the Official Gazette.
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