Regulatory Alerts2018-10-05 | 12888Central Bank of Lebanon Decision No. 12888 Repealing Decision No. 7129 on Reserves for Unspecified Banking Risks
The Central Bank of Lebanon issued Decision No. 12888 to formally repeal Decision No. 7129, which previously mandated the creation of reserves for unspecified banking risks. The repeal applies prospectively starting from the 2018 financial year, effectively removing the requirement for new provisions under that specific framework. However, banks remain legally obligated to maintain these reserves for the 2017 financial year, ensuring continuity for past liabilities.
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