VOL. XXXII

NO. 50

18-SEPTEMBER-1989

Financial and Banking News

REGIONAL BANKING

BPP France Sold, but non-French Affiliates Still in Limbo

The Paris-based Banque de Participations et de Placements (BPP), which waspart of the Bank Almashrek empire originally controlled by the now fugitivebanker Roger Tamraz, has finally been sold to French interests. BPP's branchin Switzerland, however, is still closed although the Banque du Liban (centralbank) is trying to reopen it. BPP's former owner, Bank...