Financial and Banking News
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The Banque de France announced on 27 July that it has withdrawn the bankinglicense of the Lebanese Arab Bank (LAB), which ran into trouble earlier thismonth (MEES, 24 July), and said that it had alerted the public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...
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