BSL provides zero percent housing loan. Requirements: Prepayment to the bank, standing orders

BSL Bank has launched a housing loan with zero percent cost to the borrower.

Charbel Watfa, Financial Controller at the bank, said: "Customers will be required to make a prepayment of 17.5 percent of the loan if the term is 30 years, and 20 percent if 25 years. They should also open a current account at BSL, and pay bills by standing order."

Watfa said that like all banks, clients are obliged to pay the property owner 25 percent of the property's price as a down payment.

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Lucid Investments gains banking license. To execute growth strategy in activities and scope

The final step to transform local financial company Lucid Investments into a licensed bank has been approved by the Central Bank (BDL). The corporation will now operate under the name of Lucid Investment Bank. The specialized bank has increased its capital to LL30 billion ($20 million). The approval follows BDL's keenness for a widening of funding solutions beyond the usual classic credit facilities provided by commercial banks.

Established in 2003, Lucid will continue its core business ...

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