VOL. XXX

NO. 18

9-FEBRUARY-1987

Financial and Banking News

REGIONAL BANKING

Lebanese Bank Gets Cyprus OBU License

The Central Bank of Cyprus last week licensed the fourteenth offshore bankingunit (OBU) on the island. The Beirut-based Allied Business Bank, which had totalassets of LL811.1mn at the end of June 1986 (equivalent at that time to $19.3mn)and total capital funds of LL61mn ($1.5mn), has six branches in Lebanon, and itsCyprus presence will be its first operation outside that country. The...