Middle East Economic Survey

VOL. XLVII

No 32

09-August-2004

REGIONAL BANKING

CBL Approves Sale Of Credit Agricole Stake In Banque Libano-Francaise

The Central Bank of Lebanon (CBL) has approved the sale by Frances Credit Agricole Indosuez of 42% of the share capital from its 51% stake in Banque Libano-Francaise to a group of Lebanese and Arab investors, according to the President of Banque Libano-Francaise, Farid Raphael. The new owners are Rafiq al-Said (10%), Gilbert Shaguri (10%) and Mr Raphael...