Regulatory Alerts2018-09-04 | 12866Requirements to Practice Specific Functions in the Banking and Financial Sectors
The Central Bank of Lebanon issued Decision No. 12866 to amend Decision No. 9286 of 2006, establishing updated academic, professional, and ethical qualification requirements for personnel in the banking and financial sectors. The regulation defines specific job categories and mandates the possession of designated certifications, such as the Professional Banker Certificate (PBC), Certified Internal Auditor (CIA), and CAMS, while outlining specific examination exemptions for holders of equivalent qualifications or significant experience. These requirements apply to various roles including branch managers, risk management staff, compliance officers, and treasury personnel, with implementation effective immediately upon issuance.
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