In brief

Belgium has finalized the basic banking service framework for companies, among others, by creating the long-awaited basic banking service chamber, as a result of which the new rules can now finally take effect.

Key takeaways

On 16 January 2023, the Belgian Royal Decree of 16 December 2022 on the basic banking service for companies (“Royal Decree“) and the Belgian Act of 25 September 2022 containing various provisions on the economy (“Act of 25 September 2022“) were published in the Belgian State Gazette.

These laws further implement the Belgian Act of 8 November 2020, introducing provisions on the basic banking service for companies in Book VII of the Code of Economic Law (“Act of 8 November 2020“). As a result, the Belgian regulatory framework for a basic banking service for companies is now finalized and ready to take effect. The new rules enter into force as from 26 January 2023.

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