Banque Libano-Française Digital Banking Experience. Sponsored Content

For immediate release - Beirut, January 15, 2019. Banque Libano-Française (BLF) has implemented a new e-branch concept in Mar Mikhael, aiming at offering an optimized digital banking experience to its clients and the visitors of this area. Customers will be able to withdraw, deposit cash and checks, and benefit from many other innovative services, through two ATMs. They will also have the possibility to access in a simple, confidential and secured way, their accounts through BLF e-banking...

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Expat businessmen launch $100 million investment fund. To support infrastructure projects

The Federation of Global Lebanese Investors has launched a $100 million investment fund to support infrastructure projects in the country.

The fund will invest in the infrastructure Public-Private Partnership (PPP) projects that were included in the government's CEDRE plan. Some 92 expatriate Lebanese businessmen have subscribed to the fund.

PPP projects are valued at $6 billion, according to the High Council for Privatization.

"The World Bank, the European Investment Bank...

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Calls to establish funds for reconstruction, digital tech. $100 million pledged by Kuwait and Qatar

The Arab Economic and Social Development Summit asked Arab countries to support the creation of a fund with a capital of $200 million to invest in technology and the digital economy.

Kuwait, which is the initiator of the fund project, will contribute $50 million to its capital. The Qatari government will contribute another $50 million. The private sector will also be able to participate in the capital of the fund.

The new initiative will be managed by the Arab Fund for Economic and...

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Qatar to buy $500 million in Eurobonds. Doha says it is committed to support Lebanon

Qatar will purchase Lebanese government bonds denominated in the U.S. dollar worth $500 million, said Qatari Deputy Prime Minister and Minister of Foreign Affairs Mohammed bin Abdulrahman Al Thani.

"We are committed to support the Lebanese economy and people in light of great challenges," Al Thani said.

Earlier this month, the country's dollar-denominated bonds (Eurobonds) witnessed a heavy sell-off and their prices plunged following a controversial statement by Caretaker Minister...

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Fransabank ups stake in BL to 82 percent. Sehnaoui and other investors exit BLC Bank

Fransabank has increased its ownership in BLC Bank to 81.87 percent by acquiring a combined stake of 13.3 percent from a group of shareholders, according to a statement from BLC Bank.

The sellers are banker Maurice Sehnaoui and his company, Holding M. Sehnaoui, as well as Walid Ziade, Youmna Ziade, and Silver Capital Holding (Ziade family).

Part of the stake, amounting to 8.83 percent, was acquired for a total of $45.8 million. It consisted of 18.86 million listed common shares b...

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Inbound E-money transfers must be paid in lira only. Central Bank decision applies to firms like OMT, MoneyGram, and Western Union

Electronic money transfers from abroad will be settled exclusively in lira from now on, according to an intermediate circular by the Central Bank (BDL). The circular does not restrict domestic transfers.

The decision targets companies engaged in electronic cash transfers such as OMT, MoneyGram, and Western Union, said Riad Salameh, Governor of BDL. The circular does not apply to bank transfers.

Salameh said that BDL's move is in line with international practices and aims to combat ...

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Inbound E-money transfers must be paid in lira only. Central Bank decision applies to firms like OMT, MoneyGram, and Western Union

Electronic money transfers from abroad will be settled exclusively in lira from now on, according to an intermediate circular by the Central Bank (BDL). The circular does not restrict domestic transfers.

The decision targets companies engaged in electronic cash transfers such as OMT, MoneyGram, and Western Union, said Riad Salameh, Governor of BDL. The circular does not apply to bank transfers.

Salameh said that BDL's move is in line with international practices and aims to combat ...

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Rahmeh brothers to invest in Bankmed. Total contribution to be below ten percent of the bank

Investors Teddy and Raymond Rahmeh are planning to buy shares in Bankmed.

"We were informed of the matter and we do not object it," said Riad Salameh, Governor of the Central Bank.

Negotiations are ongoing and the final number of shares is still being negotiated, according to Bankmed and representatives of the Rahmeh brothers.

The number of shares will not exceed five percent for each of the two shareholders. "This percentage does not require our consent," Salameh said i...

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