The socioeconomic and political turmoil that maintains its grip on the Middle Eastern region may be enough to keep cross-border securitization interests at bay, but it hasn't stalled domestic developments in Lebanon.

This year, Lebanon has already seen one deal close, and the country seems to be moving in the right direction. For starters, the Banque du Liban is moving closer to enacting its first securitization law that specifically addresses provisions for securitization. It's still in revision stage, but market sources are hopeful that the law will be enacted by this year-end.

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