2017-10-05 | 12688

Central Bank of Lebanon Circular No. 476: Amendments to Decision No. 7493 and Decision No. 7776

The Central Bank of Lebanon issued Circular No. 476 to amend Decision No. 7493 regarding financial operations and Decision No. 7776 concerning lending and investment activities. The amendments repeal specific articles and replace regulatory text to mandate the application of International Financial Reporting Standards, specifically IFRS 9, for financial instruments. These changes require banks to rigorously assess classification, valuation, and stress testing scenarios to ensure transparency and financial stability.

Lebanon

Banque du Liban

Show thumbnailShow full textSourceAdd to collection

Show full text

Circular No. 476

For Banks and Financial Institutions

We enclose a copy of Decision No. 12714 dated 7/11/2017 regarding the amendment of:

• Basic Decision No. 7493 dated 24/12/1999 (Financial Operations and Activities in Financial Markets) attached to Basic Circular No. 66.
• Basic Decision No. 7776 dated 21/2/2001 (Lending, Investment, Participation, and Profit-Sharing Operations) attached to Basic Circular No. 81

Beirut, on 7 November 2017

Governor of the Central Bank of Lebanon

Riad T. Salamé