Mashreq Bank The Group has followed Banque du Liban Circular No. 13129, dated 4 November 2019, requiring the increment by 20% of the value of Lebanese banks preceding June 30, 2020.
The working pay before weaknesses and use of hyper inflationary bookkeeping guidelines of ELBank stays in accordance with last year’s tantamount outcomes. The net impact of excessive inflation on the Consolidated Equity for the period finished 30 September 2021 was positive and added up to Dh 391 million, addressing the contrast between Dhs1,475 million negative minor departure from the P&L figures and Dh 1,866 million positive minor departure from all out value.
The International Monetary Fund (IMF) distributed in December 2020 the expansion gauges. By which, the Lebanese economy is considered a hyperinflationary for the reasons for applying IAS 29 and for the retranslation of unfamiliar activities as per IAS 21 and its consequences for the dense solidified between time fiscal summaries for the period finishing Sept.30, 2021.
Leave a Reply