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Lebanon Finance News

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

Banks to subsidize pre-approved housing loans. Mortgages from before March 15 can benefit. News from Lebanon

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The Association of Banks (ABL) said it has asked the banks to bear the subsidy costs of already approved housing loans until the end of 2018. Loans accepted by the banks and submitted to the Central Bank (BDL) before March 15, 2018 will benefit from….
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Financial crimes on the rise 597 cases reported. Embezzlement is the most reported crime. News from Lebanon

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The number of money laundering and terrorism financing crimes reported to the Central Bank’s Special Investigation Commission (SIC) increased 27 percent to 597 cases in 2017.

Nearly 80 percent of the cases were reported by local entities with….
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Lebanese-Australian buys five pct of Bank of Beirut. Stake acquired for $57.3 million. News from Lebanon

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Sarkis Nassif, CEO of Australia-based Holdmark Real Estate Property Group, will acquire five percent of Bank of Beirut for $57.3 million.

The bank will issue 3.05 million new common shares to Nassif at the current market price of $18.8 per sh….
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Government plans $700 million bond issue. Move to unlock $4 billion in funding for infrastructure. News from Lebanon

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The government plans to issue within one month special bonds on the local market in order to raise $700 million, said Nadim Munla, senior adviser to the Prime Minister.

This move will help the State unlock additional funding of $4 billion for….
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Fransabank to lend $150 million for energy. Bank will issue ‘green’ bonds . News from Lebanon

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Fransabank plans to launch a $150 million program to finance local projects in the renewable energy sector and that targets energy efficiency, said Adnan Kassar, the bank’s Chairman. “This is part of Fransabank’s Green Strategy,” he said.

The….
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Banks required to apply the Liquidity Coverage Ratio. Decision is part of Basel III requirements. News from Lebanon

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The Central Bank (BDL) has instructed banks to apply the Liquidity Coverage Ratio (LCR) on their local and overseas operations, according to a new basic circular.

The LCR, which is one of the Basel III requirements, must be calculated separat….
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European Bank, IFC will invest $100 million. Targeting capital markets, bonds, SMEs. News from Lebanon

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This year, the International Finance Corporation (IFC) and European Bank for Reconstruction and Development (EBRD) are preparing to launch investments in the financial sector.

Saad Sabra, IFC Country Head in Lebanon, Syria, and Yemen, said: “….
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Alaa Al Khawaja chairs GroupMed. Mohammed Hariri is still Chairman of Bankmed. News from Lebanon

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Egypt-based Jordanian businessman Alaa Al Khawaja, who last year acquired a 42.24 percent stake in GroupMed Holding, has become the group’s Chairman.

Khawaja has replaced Mohammed Hariri who is still in his position as Chairman and General Ma….
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Circular published by BDL on new stimulus package. Interest rates slightly raised on productive sectors and some housing programs. News from Lebanon

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The Central Bank (BDL) has launched a new stimulus program to subsidize housing loans and loans to the productive sectors.

BDL said in a new circular that it will subsidize up to $1 billion of loans this year. The loans denominated in lira t….
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