Publications

Silicon Valley Bank (SVB), the 16th largest bank in the United States of America and the largest bank by deposits in Silicon Valley, made headlines recently after failing to a bank run.

On January 24, 2022, the Abu Dhabi Government Media Office announced that the Securities and Commodities Authorities (“SCA”) granted its regulatory approval for the first Special Purpose Acquisition Company (“SPAC”) in the UAE and the region.

On December 09, 2021, the Lebanese Central Bank (the “BDL”) issued intermediate circular No: 601 (basic decision No: 13377) (the “Circular”) amending article 1 of basic circular number 151 (basic decision No: 13221) (“BDL Circular 151“).

On June 8, 2021, the Lebanese Central Bank (the “BDL”) issued basic circular No: 158 (basic decision No: 13335) (the “Circular”) that sets out an exceptional framework allowing depositors to withdraw limited amounts denominated in foreign currencies.

On August 17, 2021, the Lebanese Central Bank (the “BDL”) issued basic circular number 159 (basic decision No: 13353) (the “Circular”) that imposes restrictions and reporting requirements on banks operating in Lebanon, with regard to some foreign exchange operations.

On May 10, 2021 the Lebanese Central Bank (the “BDL”) issued basic circular number 157 (basic decision No: 13324) (the “Circular”) enacting the legal and regulatory framework that launches, organizes and regulates the “Sayrafa” platform.