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Lebanon Basic Circular No. 128

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Lebanon Basic Circular No. 128

800.00 1,600.00

Article 1 of the Banque du Liban Basic Circular no. 128 (Beirut, January 12, 2013) (the Circular) states that Banks and Financial
Institutions (BFIs) must establish a Compliance Department (CD) comprising of:

(1) a Legal Compliance Unit; and

(2) an Anti-Money Laundering (AML)/ Counter the Financing of Terrorism (CFT) Compliance Unit (AML/CFT Compliance Unit).

Article 3 of the Circular specifies that the Head of the Legal Compliance Unit must have the required competences and hold, at least, a law degree; it must also have the required knowledge and expertise in the field of banking and financial services laws and legislations in force in Lebanon and in any country hosting the affiliates of the bank or financial institution, in addition to the required knowledge in banking and financial activities.

This training course has been specifically designed to provide the required knowledge and expertise relating to countries hosting the affiliates of Lebanese banks or financial institutions located within the European Union (EU). 

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