Middle-east Arab News Opinion | Asharq Al-awsat

Saudi Fransi sells stakes in Syria, Lebanon firms - ASHARQ AL-AWSAT English Archive
Select Page

JEDDAH, Saudi Arabia, (Reuters) – Banque Saudi Fransi plans to sell its 27 percent stake in Bemo Saudi Fransi Syria and its 10 percent share in Bemo Lebanon, the bank said in a bourse statement on Saturday.

The bank’s chairman, Saleh al-Omair, said the financial risks in Syria do not permit Banque Saudi Fransi to continue as a partner, the statement said.

Syria has been hit by eight months of unrest, resulting in thousands of casualties, with protesters calling for an end of President Bashar al-Assad’s rule.

“Effective immediately, Banque Saudi Fransi is no longer represented in the board of directors of Bemo Saudi Fransi Syria and Bemo Lebanon,” the statement said.

“The directors representing Banque Saudi Fransi in the two banks submitted their immediate resignations from the board of directors of Bemo Saudi Fransi Syria and Bemo Lebanon,” it added.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

More Posts

Follow Me:
FacebookGoogle PlusYouTube