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Article (106): Retroactive Effect of Central Bank Regulations and Decisions

Fed Law 14/2018 Issued on 1/10/2018

The regulations, decisions, and circulars issued by the Central Bank in accordance with the provisions of this Decretal Law shall have no retroactive effect, and shall not prevent implementation of agreements concluded between Licensed Financial Institutions and their customers prior to their issuance. The Central Bank shall determine the required transitional period for Licensed Financial Institutions to reconcile their respective positions, according to the provisions of this Decretal Law.