Regulatory Alerts2022-05-17 | 13435Added · Updated
Electronic Banking and Financial Operations
The Central Bank of Lebanon issued Central Decision No. 13435 to amend capitalization requirements for institutions conducting financial and banking operations by electronic means. The decision raises the minimum paid-up capital to five billion Lebanese pounds for standard entities and ten billion Lebanese pounds for foreign currency exchange institutions, while mandating that any subsequent capital increases be fully paid in a single lump sum. Non-banking money transfer institutions established prior to this decision are granted until 31 July 2022 to submit capital increase applications and complete all related procedures by 30 September 2022.