Dec 29 2019 - 15:10
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A bank merger in Lebanon is ruled by law: Will it be a solution?

In 1993, a law was passed to facilitate a merger between banks. Lebanon, news ,lbci ,أخبار Banks,Lebanon,In 1993, a law was passed to facilitate a merger between banks.
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Lebanon News

In 1993, a law was passed to facilitate a merger between banks.

 

In its first article, the law stipulates: “The merged bank is hereby defined as the bank that ceases to exist under the procedures specified in this Law, in which case all its assets, rights, liabilities and obligations shall be added to the assets, rights, liabilities and obligations of another bank called the merging bank.”

 
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The second article says that “any merger between two banks or more shall be contingent upon the approval of the Central Council of the Banque du Liban (BDL).”

 

There are several types of bank mergers.

 
 

For more details, watch the full report in the video above

 

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