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(ANSAmed) - DUBAI, JUNE 24 - Emirates Lebanon Bank s.a.l , and BNP Paribas, have announced that they are in the process of filing for regulatory approval in relation with their contemplated partnership in Lebanon, Khaleej Times online reports. As per agreements entered between the parties and which remain subject to the approval of Banque du Liban (Central Bank of Lebanon), the UAE-based bank will be acquiring through its Lebanese subsidiary, Emirates Lebanon Bank s.a.l (previously Banque de la Bekaa s.a.l), the activities of the Lebanese branch of Banque Nationale de Paris Intercontinentale (a fully-owned subsidiary of BNP Paribas). Emirates Lebanon Bank s.a.l will be 81 per cent owned by Bank of Sharjah with BNPI France holding the balance of 19 per cent. A collaboration agreement between the Lebanese bank and BNP Paribas at the level of private banking and asset management is also being considered. Through this acquisition, clients will be able to benefit from a continuing relationship with their bank as well as an enhanced offering of products and services. (ANSAmed).