Financial and Banking News
Swiss Central Bank Closes Tamraz-linked Bank
The Swiss Federal Banking Commission on 31 January revoked the bankinglicense of Banque de Participations et de Placement SA (BPP) of Lugano. TheCommission said that BPP had failed to heed a warning issued last November to improve its liquidity and had violated the country's banking code. BPP isofficially listed as being owned 35% by Bank Almashrek of Lebanon and 65% byCompart...