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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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Loans

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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BSL provides zero percent housing loan. Requirements: Prepayment to the bank, standing orders

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BSL Bank has launched a housing loan with zero percent cost to the borrower.

Charbel Watfa, Financial Controller at the bank, said: “Customers will be required to make a prepayment of 17.5 percent of the loan if the term is 30 years, and 20 ….
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Audi writes off $191 million in Syria, Sudan investments. Positive growth in all Q3 indicators

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Bank Audi announced that it has written off its investments in Syria and Sudan for an amount of $191 million. In its third quarter results report, the bank declared a 15.2 percent growth in profits over the same period of last year, to $350 million…..
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Green for Growth fund to start local operations. Fund can directly finance projects or partner with financial institutions

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Green for Growth, an international fund for renewable energy and energy efficiency projects operating in Southeast Europe, European Eastern Neighborhood Region, and in the Middle East and North Africa, will start operations in the local market, acco….
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Banks now to fund speculative property deals. Ruling helps ease developers debt burden

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The Central Bank (BDL) has issued a ruling that allow banks to provide loans to real estate companies that wish to purchase built properties to help alleviate the debt burden of some real estate developers.

The ruling allows real estate deve….
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IFC extends loan to Fransabank arm. To provide more environment friendly loans

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International Finance Corporation, member of the World Bank, signed a $7 million loan agreement with Fransabank subsidiary, the Lebanese Leasing Company (LLC).

The loan, supported by the Canadian Government, will be used in energy efficiency ….
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Loans guaranteed by Kafalat down by 19 percent. Agriculture sector gained the largest share

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The number of loans guaranteed by Kafalat declined by a yearly 19 percent to 676 in 2015. The volume of loans reached $93 million, a decrease by more than 14 percent.

The agriculture sector registered the largest share with 47 percent of thes….
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Islamic Bank loan for hydropower plants. Part of the Beirut Water Supply Project

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The Council of Ministers approved yesterday a loan agreement with the Islamic Development Bank (IDB) to fund the remaining part of the Water Supply Augmentation Project. The funds will be used for the construction of two hydropower plants generating….
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Central Bank extends subsidized loan program. Beneficiaries include small businesses and home buyers

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The Central Bank (BDL) has extended to the end of 2016 the 60 percent exemption of reserve requirements for certain loans denominated in lira. The exempted funds may be used by banks to extend soft loans for housing or business financing.

The….
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