Arabnet Arabnet

To the Lebanese entrepreneurs’ exhilaration, the Central Bank of Lebanon has just released a radical official circular that de-risks equity investment in Lebanese incorporated startups.

“This means that Lebanon’s startups are now as ‘safe’ as an investment made in a San Francisco, London, or New York startup,” exclaims Samer Nadim Karam, Founder & CEO of Seeqnce.

The announcement came a few months after globally competitive startup pitches took place at the Central Bank. This was followed by intense discussions between representatives from the Lebanon Digital Roadmap and the Governor of the Central Bank, Mr. Riad Salameh.

According to the circular, $400 million USD are now 75% guaranteed by the Central Bank of Lebanon for Lebanese banks equity investment in startups, incubators, accelerators, and funds.

“This is enough funding to kick off and boost a huge number of young Lebanese entrepreneurs trying to build from Lebanon a global success story,” stated Mr. Nicolas Sehanoui, the Lebanese Minister of Telecommunications. “Let us now, as an ecosystem, cooperate and collaborate towards transforming this opportunity into a success!”