Regulatory Alerts2024-02-29 | 13621Conditions for Establishing and Operating Financial Institutions
The Acting Governor of the Central Bank of Lebanon issued Decision No. 13621 to amend Basic Decision No. 7136 by introducing Article 12 bis, which mandates Lebanese financial institutions to suspend dividend distributions on ordinary share capital for prior financial years throughout 2024. The amendment, effective immediately upon issuance and published in the Official Gazette, aligns with the Monetary and Banking Law and a Central Bank Council resolution from February 28, 2024. This regulatory update ensures capital retention within the financial sector to support economic stability and liquidity management.
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