FNB subsidizes housing loans. LL20 billion for 100 homes

First National Bank (FNB) has approved more than 100 housing loans worth over LL20 billion ($13.3 million) at an interest rate of 4.5 percent, said Najib Semaan, General Manager of FNB.

"We intend to launch soon a similar package of approximately the same size," Semaan said.

The interest subsidy cost will be assumed by FNB and the loans will be provided through the Public Corporation for Housing (PCH). The Central Bank (BDL) has approved the program. FNB and PCH have signed a proto...

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Fransabank biometric card makes pin codes obsolete. High-tech Mastercard enters local market

Fransabank said it has launched, in partnership with Mastercard, a biometric payment card with an embedded fingerprint sensor.

The biometric authentication technology of the card, which has been introduced for the first time on the local market, allows cardholders to complete a purchase without having to use a pin code or signature.

"The deployment of biometric cards will be launched in phases to cover gradually our entire customer base," said Nadim Kassar, General Manager of Fran...

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M1 Group denies housing loan violations. Loans taken according to Decision no. 7835

M1 Group did not acquire loans from the Housing Bank or those guaranteed by the Public Corporation for Housing (PCH), it said in a statement released today, in response to claims made by the Media Focal Center (MFC).

MFC earlier alleged that M1 Group is one of several politically-backed businesses that are responsible for housing loans running out early this year.

"Individuals from our group applied for housing loans in 2011 and 2013 according to Central Bank Decision No. 7835, iss...

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Bank Audi is not merging with Bankmed. Baz: “We are redeploying employees not laying them off”

Bank Audi is not considering a merger with any big bank, and claims that it is in talks to acquire Bankmed are baseless, according to Freddie Baz, Vice Chairman and Strategy Director of the Bank Audi group.

Mega mergers cannot happen in Lebanon because the Governor of the Central Bank has repeatedly stated that such kinds of mergers are not encouraged under current circumstances. Since the global financial crisis in 2008, international and local regulators have become more wary of oversiz...

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