No. 35



New Law Approves Trading In Lebanese Bank Shares

The Lebanese parliament on 22 May approved a law allowing the resumption of trading in local bank shares, an activity discontinued in 1983 to prevent shares from ending in the wrong hands during the civil war. According to the law, the Central Bank of Lebanon is authorized to license local banks to issue up to 30% of their shares of any category for trading on the capital markets. The new legislation...