Friday, July 1, 2016

Central Bank issues new regulations to implement IFRS9.

The Central Bank (BDL) has instructed local banks to abide by additional regulations in preparation for the implementation of the International Financial Reporting Standard 9 (IFRS 9).

IFRS 9, which is promulgated by the International Accounting Standards Board (IASB), includes accounting standards pertaining to financial instruments. When it becomes effective in January 2018, IFRS 9 will replace an earlier international norm.

In preparation of this new standard, BDL informed banks...

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