VOL. XXXII

NO. 44

7-AUGUST-1989

Financial and Banking News

REGIONAL BANKING

Lebanese-owned Bank in Paris Loses its License

The Banque de France announced on 27 July that it has withdrawn the bankinglicense of the Lebanese Arab Bank (LAB), which ran into trouble earlier thismonth (MEES, 24 July), and said that it had alerted the public prosecutor tocertain irregularities in the bank's accounts. On 18 July LAB was closed becauseof insufficient reserves to meet commitments, and a temporary judicial...