Regulatory Alerts2020-12-09 | 13300Operations relating to credit, investment and shareholding and participation
The Governor of the Central Bank of Lebanon issued Decision No. 13300 to amend Decision No. 7776 by repealing its repeated Article One, thereby updating the regulatory framework for credit, investment, shareholding and participation operations. This amendment aligns with Articles 70, 79 and 174 of the Monetary and Banking Law and follows a Central Council meeting held on December 9, 2020. The decision takes immediate effect upon issuance and is formally published in the Official Gazette.
Circular No. 577
To Banks and Financial Institutions
We wish you to link Circular No. 13300 dated 9/12/2020 relating to the amendment of a copy of the Central Bank Decision No. 7776 dated 21/2/2001 (Credit, Investment, Shareholding and Participation Operations) attached with Circular No. 81
Beirut, on 9 January 2020
Governor of the Central Bank of Lebanon Riad T. Salam
Central Bank Decision No. 13300
Amending Decision No. 7776 dated 21/2/2001 (Credit, Investment, Shareholding and Participation Operations)
The Governor of the Central Bank of Lebanon, pursuant to the Monetary and Banking Law, particularly Articles 70, 79 and 174 thereof, and pursuant to Decision No. 7776 dated 21/2/2001 and its amendments relating to credit, investment shareholding and participation operations, and pursuant to the decision of the Central Council of the Central Bank taken in its meeting held on 9/12/2020, hereby approves the following:
Article One: "Article One (repeated)" of Decision No. 7776 dated 21/2/2001 is repealed.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 9 January 2020
Governor of the Central Bank of Lebanon Riad T. Salam