Banks and financial institutions are allowed to lend or renew credit facilities to businesses only against duly audited financial statements that are identical to those submitted to the tax authorities, according to a new circular by the Central Bank (BDL).
The decision applies to enterprises or companies whose annual turnover is equal to or greater than LL1.5 billion ($1 million).
The banks' assessment of the credit worthiness of a business should be based on the financial state...
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