Lebanon Businessnews News

Mena Invest becomes stockbroker
New brokage house to encourage firms to get listed on the BSE
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The Beirut Stock Exchange (BSE) has approved Mena Invest as a stock market broker . The company started trading operations on Monday (April 30). 

According to Mena Invest Chairman Tareck Farah, the current level of activity at the stock exchange is “shameful”. He said that Mena Invest will not just be a broker at the BSE: “We will work to encourage companies to get listed on the stock exchange.”

According to Farah, Lebanon’s stock market has huge potential, but very little resources. “Lebanon is supposed to have a very active stock exchange that matches its active economy,” he said.

Monetary authorities have been working on laws to privatize the BSE and the Capital Markets law which was adopted last August. “The privatization of the BSE will act as a catalyst that will spur growth at the stock exchange,” said Farah.

The addition of Mena Invest raised the number of brokers at the BSE to 17. Mena Invest was listed with the Central Bank as a financial institution in May last year.

Reported by Hanadi Chami
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Date Posted: May 03, 2012