No 29



Bank Of Beirut To BeginOperations In Cyprus

TheCentral Bank of Cyprus on 15 July granted a license to Lebanons Bank of Beirut to operate an international banking unit(IBU) on the island. The bank plans to open in Limassolin September. An announcement by the Central Bank said that Bank of Beirut wasthe eighth Lebanese bank to set up an IBU in Cyprus. A total of 28 IBUs and threerepresentative offices are currently operating on the island. The announcementadded...