Regulatory Alerts2023-07-24 | 13567Capital Adequacy Regulatory Framework for Banks Operating in Lebanon and Consolidated Financial Statements
The Governor of the Central Bank of Lebanon issued Intermediary Decision No. 13567 to amend Basic Decisions No. 6576 and 6939, updating the regulatory framework for capital adequacy and consolidated financial statements. The decision repeals Article 5 of Decision No. 6576 to mandate the accounting treatment of exchange rate differences under International Financial Reporting Standards, and amends Article 6 bis to suspend dividend distributions for ordinary shareholders across the 2019–2023 financial years. These amendments apply retroactively to the suspended position as of December 31, 2022, remain effective for one year from issuance, and take immediate effect upon publication in the Official Gazette.
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