RegAlert2018-09-19 | 12874Added · Updated
Central Bank of Lebanon Decision No. 12874 Amending the Regulations on the Control of Financial and Banking Operations for Fighting Money Laundering and Terrorist Financing
The Central Bank of Lebanon issued Decision No. 12874 to amend the existing regulations on combating money laundering and terrorist financing by introducing a new Article 5 bis. This amendment mandates that banks must immediately notify the Special Investigation Commission whenever they freeze accounts, refuse transactions, or deny account openings based on anti-money laundering laws. The decision entered into force immediately upon its issuance on September 19, 2018, and was published in the Official Gazette.
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Circular No. 508
For Banks and Financial Institutions
We enclose herewith a copy of Central Bank Decision No. 12874 dated 19/9/2018 concerning the amendment of the system for the control of financial and banking operations for fighting money laundering and terrorist financing, attached to the Basic Decision No. 7818 dated 18/5/2001, which is the subject of Basic Circular No. 83.
Beirut, on 19 September 2018
Governor of the Central Bank of Lebanon
Riad T. Salam
Lineage: In force
Timeline
This document amends: Regulations on the Control of Financial and Banking Operations for Fighting Money Laundering and Terrorist Financing
Source: Banque du Liban — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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