Financial and Banking News


Almashrek's Latest Acquisition Blocked 

An attempt by Bank Almashrek to acquire control of Credit Libanais has been blocked by the Banking Control Commission (BCC) of Lebanon's central bank, the Banque du Liban, which on 18 December ruled that Almashrek's purchase of a 70% stake in Credit Libanais contravened Legislative Decree No. 87 of 1983. Prior to this, Almashrek's holding company, the Intra Investment Company...