Legal Compliance

In accordance with article five of BDL Basic circular No. 128 dated January 12, 2013 our Legal Compliance Unit performs its tasks as per its annual program and its working mechanism to identify, prevent and mitigate legal risks to ensure the implementation of the following tasks:

• Managing, monitoring and ensuring compliance with local and foreign regulators’ directives (Central Bank of Lebanon, Banking Control Commission, Special Investigation Commission, Association of Banks or other abroad Central Banks or regulators where the NACB may have presence).
• Carefully analyzing circulars, laws and memos received from the different regulators and their impact on the Bank’s procedures.
• Ensuring that circulars, memos and laws are dispatched to the concerned parties for execution, in accordance with the Bank’s procedures
• Identifying amendments of laws and regulations’ and following up on their implementation.
• Ensuring that adequate policies and procedures are implemented with regards to legal and regulatory requirements.
• Centralizing circulars and regulatory requirements in a reference library and ensuring its continuous update.
• Submitting reports to Compliance Manager,Senior Management and to the Board of Directors.