Monday 23, June 2008 by

BNP Paribas and Bank of Sharjah in Lebanese joint venture

Emirates Lebanon Bank, a fully-owned subsidiary of Bank of Sharjah, and BNP Paribas, said they are in the process of filing for regulatory approval in relation with their contemplated partnership in Lebanon. According to the agreements entered into between the parties and which remain subject to the approval of Banque du Liban (Central Bank of Lebanon), the UAE-based bank will be acquiring through its Lebanese subsidiary, Emirates Lebanon Bank, previously known as Banque de la Bekaa,  and the activities of the Lebanese branch of Banque Nationale de Paris Intercontinentale (BNPI), which is a fully-owned subsidiary of BNP Paribas.

Features & Analyses