Bank Pharaon & Chiha in Beirut. (The Daily Star/Mohammad Azakir)
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Banque Pharaon & Chiha remained upbeat about the prospects of getting Central Bank approval for the bank's acquisition by Lebanese-based ZR Holding, despite reports that the request has been rejected.Among the experienced bankers are Ghassan Muhanna, Marwan Iskander and a third person with vast knowledge in the banking field," the insider said.He added that the Central Bank usually needed about two months to approve or disapprove a request by individuals to acquire a bank and a shorter period if two banks were involved in this deal.The bank has a paid capital of $43.3 million and hopes to raise it to $85 million once the acquisition request is approved by the Central Bank.
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