Regulatory Alerts2018-09-13 | 12872General Data Protection Regulation (GDPR)
The Central Bank of Lebanon issued Basic Decision No. 12872 to mandate compliance with the European Union's General Data Protection Regulation (GDPR) for all banks, financial institutions, and supervised entities operating in Lebanon. The decision requires these institutions to implement appropriate data protection measures, appoint a Data Protection Officer (DPO) or EU representative, and amend their compliance programs by 31 December 2018. Furthermore, it obligates supervisory commissioners to verify adherence through annual reports detailing implemented measures, audit outcomes, and relevant observations.
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