Regulatory Alerts2006-03-09 | 9286Academic, Professional and Ethical Qualifications
Issued by the Governor of Banque du Liban, Basic Decision No. 9286 mandates that Lebanese banks and financial institutions ensure all persons performing regulated tasks hold specified academic, professional, and ethical qualifications. The decision establishes a framework for mandatory examinations, detailed file maintenance, and specific exemptions for senior executives and experienced staff, while setting compliance deadlines of December 2018 and June 2022 for certificate acquisition. It further grants a three-year grace period for new appointees, requires annual exam submission rates of at least twenty percent per certificate, and subjects non-compliance to administrative penalties under the Monetary and Credit Law.
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