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About the Host
Beirut Stock Exchange (BSE)
 

The Beirut Stock Exchange (BSE) is a public institution. It is ruled by the provisions of the BSE By-law, stipulated in the legislative decree number 120, dated September 16, 1983 (amended by decree 4729, dated 30/3/1988, and By-law 418, dated 15/5/1995) and decree 7667, dated 16/12/1995.
The Beirut Stock Exchange is run by a committee including a Chairman, a Vice-Chairman and eight members appointed by virtue of a decree issued by the Council of Ministers, in accordance with a proposal of the Minister of Finance. The Committee’s mandate duration is set to four years.

The makeup of the Committee is as follows:

  • A President selected among specialists and skilled experts.
  • A representative of the Ministry of Finance appointed Vice-Chairman. If the representative of the Ministry of Finance is a civil servant, he must be of grade one, and should work effectively in the Ministry of Finance.
  • Two representatives of the banks operating in Lebanon, chosen from six candidates proposed by the Association of Banks in Lebanon.
  • Two representatives of the brokers, chosen from six candidates proposed by the Brokers’ Association of the Stock Exchange.
  • Two representatives of Lebanese joint stock companies having their shares listed on the Stock Exchange.
  • A representative of Lebanese joint stock companies being members of the Stock Exchange.
  • A Lebanese or foreign expert, selected from skilled professionals and experts well-versed in the Stock Exchange and capital markets issues.
In accordance with the provisions of the laws and regulations governing the Beirut Stock Exchange, the Committee is responsible for the following:
  • Managing, regulating, and developing the markets as stipulated by the law.
  • Protecting the interests of the investors trading at the Beirut Stock Exchange.
  • Monitoring the activities of the listed companies, and providing adequate source of information to the issuers and traders at the BSE on an equal footing.

The Committee may present to relevant authorities any draft proposal for the amendment of the legislative and regulatory texts relating directly or indirectly to the Beirut Stock Exchange.  Likewise, the Committee may propose to relevant authorities any new legislative or regulatory texts.
The By-law of the Beirut Stock Exchange stipulates the establishment of a disciplinary board formed by three members and entrusted with the task of examining any violation of the provisions of the law, the By-law and the circulars by listed companies, registered brokers or members of the Beirut Stock Exchange.

Knowing that:
BSE Members:
 All Lebanese Joint Stock Companies (SAL), including holding and offshore companies, registered at the secretariat of the Commercial Register, with a capital above five hundred thousand Lebanese Pounds.
Brokers: Brokerage companies authorized by the BSE to operate and trade in securities listed on the BSE according to the Bourse trading system.
Issuers: Companies having any of their stocks or other financial instruments listed on the Beirut Stock Exchange. Such companies are also called "Listed companies".

History
Beirut Stock Exchange (BSE) is the second oldest stock market in the region; it was established in 1920, by a decree of the French Commissioner. Initially, trading was restricted to gold and foreign currencies. In the early 30s, trading was expanded to encompass shares of private companies set up under the French mandate to operate and manage some public services and sectors (railways, communications, post…). It was then tantamount to privatization. Some of these corporate securities and shares were listed on both BSE and Bourse de Paris at the same time.

More information on the Beirut Stock Exchange Website at http://www.bse.com.lb/