Search

Lebanon Finance News

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

Tag

Financial Institutions

Moneylenders to get same training as bankers. Central Bank circular regulatin g further ‘Comptoirs de crédit’

Training-Money-launderers.jpg

The Central Bank (BDL) has issued a new regulation requiring certain executives in moneylending businesses to have qualifications similar to those required by people holding comparable jobs in banks and financial institutions. The prerequisites pert….
Article details

BDL to raise ceiling for industrial export soft loans. Conditions to ease in a bid to benefit SMEs

IndusExportFinance-Lebanon.jpg

The Central Bank (BDL) will raise the ceiling of soft loans provided by banks to finance the working capital of industrial exporters to $3 million from $2 million, according to Wael Hamdan, Director of BDL’s Financing Unit.

The decision is an….
Article details

Banks get to open more branches per year. BDL Circular aims to expand financial inclusion

Bank-branches-1.jpg

The Central Bank (BDL) will allow banks to increase the number of branches to three per year, up from two currently, provided that at least one of the new branches uses modern technology, according to BDL’s intermediate circular 467.

BDL said….
Article details

EIB offers $303 million in credit lines to four banks. Funds target SMEs and mid-cap companies

EIBSMELendingLebanon.jpg

The European Investment Bank (EIB) has granted credit lines to four local banks with a combined value of 265 million euros ($303 million). The funds will be used to finance small and medium enterprises (SMEs) and mid-cap companies.

The benefi….
Article details

Torbey reelected Chairman of ABL. Salim Sfeir won one seat

JosephTorbey_3.jpg

Joseph Torbey has been reelected as Chairman of the Association of Banks (ABL). His team won 11 out of 12 seats of ABL’s Board of Directors.

His rival Salim Sfeir won one seat at the expense of Varouj Nerguizian, Chairman of Emirates Lebanon ….
Article details

Two lists face-off in ABL elections. Sfeir leads a ‘List for Change’ VS. Torbey’s ‘Banking Decision List’

lebanon-banking-association.jpg

Salim Sfeir, Chairman of Bank of Beirut, is spearheading a list of eight bankers against the list of four-time Chairman of Association of Banks in Lebanon, Joseph Torbey.

With his “List for Change”, Sfeir promised to “carry out a series of re….
Article details

GroupMed mulls selling shares in IPO. Khawaja completes acquisition of 42.2 percent stake

GroupMed-IPO-Lebanon.jpg

GroupMed Holding, the owner of Bankmed, is considering launching an Initial Public Offering (IPO) of its shares in the near future, said Alaa Al Khawaja, a new shareholder in the company.

Khawaja said that his acquisition of 42.24 percent sta….
Article details

BLOM redeems $200 million shares. Bank converts $27 million earnings into equity

BLOMRedeemsSharesLebanon.jpg

BLOM Bank said it has redeemed and canceled 20 million preferred shares by buying them back at their issue price of $10 per share.

This operation has resulted in a decrease of $200 million in the bank’s total shareholder’s equity, which stoo….
Article details

Shaker Holdings exits BLOM Bank for $69.8 million. Main stake bought by other shareholders

BLOMBankShaker-Lebanon.jpg

Shaker Holdings has sold the remainder of its stake in BLOM Bank consisting of 6.5 million common shares to Banorabe S.A. and BLOM Bank itself for a total of $69.8 million. Each share was sold for $10.7, BLOM Bank said in a statement.

Luxembo….
Article details

Create a free website or blog at WordPress.com.

Up ↑