In an interim circular bearing number 693 dated 29/2/2024, the Banque du Liban (BDL) made a temporary adjustment to the operating conditions of financial companies operating in Lebanon.
Circular 693, which refers to the decision adopted by the Central Council of the Banque du Liban, which met on February 28, 2024, commands financial companies to refrain from distributing dividends to holders of their ordinary shares in 2024, as well as over the previous financial years.
Clearly, this circular is aimed at strengthening the capitalization of financial companies, which generate profits. Examples include financial companies such as OMT and BoB Finance.
