Regulatory Alerts2022-03-29 | 13424Conditions for Establishing and Operating Financial Institutions
The Governor of the Central Bank of Lebanon issued Circular Decision No. 13424 to amend Basic Decision No. 7136 by adding a provision that automatically strikes off financial institutions from the statutory list if they cease operations for six consecutive months, deeming their licenses cancelled. This amendment takes immediate effect upon issuance and mandates official gazette publication to ensure regulatory compliance across all licensed financial entities. The Central Bank Council approved the measure during its March 23, 2022 meeting under Articles 70 and 182 of the Monetary and Banking Law.
Share