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Lebanese Central Bank pushes start-up investments

Lebanon's Central Bank is encouraging commercial banks to invest in small business start-ups to spur economic growth — but with limited success so far.
A man walks past a closed branch of Fransabank in Beirut September 4, 2013. Banks and private business corporations saw a one-day strike being held in many parts of Lebanon on Wednesday, organised by economic committees aiming to pressure Lebanese political parties to form a cabinet to maintain the country's economy, local media reported. REUTERS/Mohamed Azakir (LEBANON - Tags: BUSINESS) - RTX136NZ
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Circular No. 331 issued by the Central Bank of Lebanon (BDL) on Aug. 22, 2013, will not only help start-ups and boost the knowledge economy sector through financial incentives to banks, it may also turn into an incentive for developing the financial markets, consolidating the economy and boosting growth, especially if the appropriate security and political conditions are met that would come to the country’s advantage.

Circular No. 331 encourages commercial banks to invest in start-ups. The BDL will guarantee up to 75% of the value of these commercial bank investments in the capital of start-ups that meet the determined criteria.

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