No. 22



Lebanese Bank Up For Sale

The Banque du Liban (BDL), Lebanon's Central Bank, has invited bids for the saleof its 97% share holding in Credit Libanais. BDL, which acquired Credit Libanais in 1989following the crash of Mr. Roger Tamraz's financial empire, is seeking to sell the bank in a privateplacement to a strategic investor. The sale is open to foreigners and Lebanese, although, under Lebaneselaw, one-third of the shares of any Lebanese bank should be held by...