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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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Financial Markets

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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Fidus to morph into a specialized or private bank. Equity increased to $25 million. News from Lebanon

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Fidus SAL, a subsidiary of Société Générale de Banque au Liban (SGBL), has received preliminary approval from the Central Bank (BDL) to convert into a specialized bank, according to Jean Hanna, the company’s Deputy Genera….
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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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Central Bank assets rise 16 percent. Loans to financial sector double to $12.7 billion. News from Lebanon

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The total assets of the Central Bank (BDL) grew to $118.3 billion at the end of 2017, rising by $15.9 billion or 16 percent compared with a year earlier, according to BDL’s data.

Deposits by the financial sector surged over the same peri….
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Emirates NBD sells 40 percent of its BoB shares. Deal valued at $39 million. News from Lebanon

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Bank of Beirut (BoB) acquired more than 40 percent of Emirates NBD’s stake in the bank, valued at $39 million. It represents 2.7 percent of the bank’s equity out of a total 6.5 percent shareholding. An EMIRATES NBD is a UAE-based bank.

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

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

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

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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….
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Solidere to delist its GDRs from London Stock Exchange. Listing costs outweigh low trading volumes

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Solidere said it has asked to delist its Global Depositary Receipts (GDRs) from the London Stock Exchange (LSE) effective June 29, 2017, due to low trading volumes.

Given the GDRs limited liquidity, the costs and administrative burdens are di….
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