The Bahraini Al Baraka Group revealed today, Tuesday, that the Central Bank of Lebanon has taken control of its banking unit known as "Al Baraka Bank Lebanon." The group added in a statement that the Lebanese central bank took control of Al Baraka Bank in Lebanon due to its failure to comply with certain regulations, including the absence of a restructuring plan and a call for shareholders to inject capital. The group rejected the Central Bank of Lebanon's interpretation of the matter.
Central Bank Takes Control of "Al Baraka Bank Lebanon"
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