Conditions for the Establishment and Operation of Financial Institutions

Circular No. 727 for Financial Institutions

We hereby attach a copy of Central Decision No. 13697 dated 2025/2/6 concerning the amendment of Basic Decision No. 7136 dated 1998/10/22 (conditions for the establishment and operation of financial institutions) attached to Circular No. 2 for Financial Institutions.

Beirut, 6 February 2025

Acting Governor of Bank Lebaon
Dr. Wissam Mansouri

Central Decision No. 13697
Amending Basic Decision No. 7136 dated 22/10/1998

The Governor of Bank Lebaon, pursuant to the Monetary and Banking Law, particularly Article 182 thereof, and based on Basic Decision No. 7136 dated 22/10/1998 and its amendments concerning the conditions for the establishment and operation of financial institutions, and based on the decision of the Central Council of Bank Lebaon taken in its meeting held on 5 February 2025,

hereby decides the following:

Article 1: The text of "Article Twelve bis" of Basic Decision No. 7136 dated 22/10/1998 is repealed and replaced with the following text:
"Article Twelve bis: Lebanese financial institutions are requested not to distribute profits on ordinary shares during the years 2024 and 2025 from previous financial years."

Article 2: This decision shall take effect upon its issuance.

Article 3: This decision shall be published in the Official Gazette.

Beirut, 6 February 2025
Acting Governor of Bank Lebaon
Dr. Wissam Mansouri