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Lebanon Finance News

Dedicated to economic and business news on Lebanon, managed by the team of Lebanon Opportunities.

Month

November 2015

Central Bank sets rules for incubators and accelerators. Knowledge economy to account for five percent of GDP by 2030

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Incubators and accelerators are allowed to invest only up to five percent in the capital of each startup company that benefits from their support, according to a circular by the Central Bank (BDL) issued recently.

“BDL is keen to determine th….
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Primary surplus in public budget. Debt to GDP is declining, but more reforms are needed

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The banking sector has been a main support to finance the State’s needs and reduce the burden of high public debt, according to the Ministry of Finance (MoF).

Banks have foreign currency reserves worth $65 billion, representing 93 percent of….
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Lebanon tops Arab world in financial secrecy. It mixes secrecy with big tax exemptions

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The Tax Justice Network (TJN) said it has ranked Lebanon first in the Arab world and seventh globally in the 2015 Financial Secrecy Index (FSI).

“Lebanon has sailed against the prevailing winds on global financial transparency and continues t….
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Alpha banks still growing at a slower pace. Tough operating environment puts pressure on assets, loans and deposits

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Alpha banks, the first 14 banks with deposits exceeding $2 billion each, have reported a slowing activity this year, according to the Alpha report issued by Bankdata Financial Services.

Consolidated assets grew by 2.6 percent over the first n….
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Bank account hacking on the rise. Lack of awareness is cited as the cause of most cases

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The number of cybercrimes through online banking accounts has increased from one case in 2011 to 63 today, according to the Special Investigation Commission (SIC) of the Central Bank (BDL), which said that the stolen amounts range between $1,500 and….
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Zero interest loans for eco-friendly plants. Three plants to start benefiting

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An agreement was signed on November 6 between the Central Bank and the Ministry of Environment (MoE) to give low-interest loans to industrialists who will apply environmentally friendly standards.

The agreement is part of the World Bank-fund….
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Bank Audi plans to expand foreign footprint. Eyes UK and sub-Saharan countries

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Bank Audi is planning to have its foreign entities constitute 60 percent of its consolidated activity. Around half of the bank’s activity has been derived from its entities outside the local market.

Freddie Baz, Group Strategy Director and V….
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