Regulatory Alerts2004-07-13 | 8779Microloans
The Central Bank of Lebanon issues Basic Decision No. 8779 to define microloans as loans up to thirty million Lebanese Lira with a maximum six-year repayment term, granted by banks either from their own funds or via microfinance institutions. The decision mandates that microfinance institutions obtain prior approval, submit required documentation, and ensure total guarantees do not exceed fifteen billion Lebanese Lira. It further establishes compliance timelines for institutional establishment, reporting obligations to the Central Department for Banking Risks, and judicial enforcement mechanisms for non-compliant entities.
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