Beirut Stock Exchange (BSE)

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 theses corporate securities and shares were listed on both BSE and Bourse de Paris at the same time.

In the 1950s and 1960s, the Lebanese economy witnessed a significant activity; various industrial, banking and services companies listed their stocks on the BSE, thus prompt it at the forefront of the regional markets, totaling 50 listed bonds.

In 1975, at the onset of the security turmoil in Lebanon, the trading activity in the BSE draws back and was conclusively halted in 1983. The suspension extended until 1996.

In 1994, the prevailing stability and security in the country induced the Lebanese government into appointing a new administrating committee to re-launch the BSE. The committee set up a new internal bylaw, re-structured and streamlined mechanisms and trading systems, with the collaboration of the Bourse de Paris. A new electronic brokers system (automated order) was set in place, based on the fixing price instead of the traditional OTC voice brokers.