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Lebanon Finance News

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

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Central Bank

Central Bank to banks: Know your real client. Central Bank’s decision is pa rt of anti-money laundering compliance. News from Lebanon

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The Central Bank (BDL) has issued a circular instructing banks and financial entities to identify the ultimate owners or controllers, technically called ’beneficial owners’, of their institutional and individual clients.

They must also open ….
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Banks OK’d to trade in financial instruments. CMA to monitor accounts. News from Lebanon

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The Central Bank (BDL) has reauthorized commercial banks and financial institutions to directly carry out transactions involving financial instruments on behalf of their clients, according to two new BDL circulars.

The new circulars overturn ….
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Finance Bank under investigation. Problems to be solved within months. News from Lebanon

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The Higher Banking Commission, which is the judicial arm of the Central Bank (BDL), has instructed the newly appointed general manager of Finance Bank to investigate suspected wrongdoing at the bank and to prepare a recovery plan.

The Commiss….
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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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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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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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