Regulatory Alerts2018-08-16 | 12861Conditions for the Establishment and Operation of Financial Institutions
The Governor of the Central Bank of Lebanon issued Central Bank Decision No. 12861 to amend Decision No. 7136 regarding the establishment and operation of financial institutions. The amendment introduces specific capital requirements for institutions focused on microfinance and grants them exemptions from certain compliance and examination obligations. It also regulates the opening of satellite offices for microfinance activities and updates the mandatory provisions for financial institutions' bylaws.
Circular No. 506
For Financial Institutions
We hereby submit to you a copy of Central Bank Decision No. 12861 dated 16/8/2018 concerning the amendment of Basic Decision No. 7136 dated 22/10/1998 (Conditions for the establishment and operation of financial institutions) attached to Basic Circular No. 2 for Financial Institutions.
Beirut, August 16, 2018
Governor of the Central Bank of Lebanon
Riad T. Salamah
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