“The local schemes are mostly contractual (funds), which is typically different from corporate schemes. This means that the regulator of contractual schemes plays a more important role of ensuring a secure framework for the investors which helps increase confidence and investments”
Mrs. Sally Buxton, World Bank lead expert, introducing the important characteristics of the new CIS regulation.
"Any person seeking to establish a Collective Investment Scheme for public offer in Lebanon must submit an application to the Authority, thus the applicant must be a locally approved institution by the CMA licensed to manage C.I.S."
Mr. Khalil Ghalayini, Head of the CMA Financial Control Unit, explaining about the public offering of Collective Investment Schemes.
"My concern is with the development of the local market, where foreign funds are more existent. Thus, all of the money will end up being invested outside of Lebanon. And the solution for this issue can be solved with the creation of a local fund of funds."
Mrs. Sally Buxton, World Bank lead expert, answering a participant of the seminar on a question related to the development of the local market.