Author Archives: Thomas Schellen

A frank, but hopeful, view

A frank, but hopeful, view

Executive spoke with German Ambassador Martin Huth to follow up on Germany’s aid commitment to Lebanon, the development of bilateral economic relations in 2016 and to chart expectations for 2017. E   How much of the money pledged in conferences in the beginning of the year did Germany contribute to humanitarian and development needs of

Freedom of insurance

The Lebanese insurance industry seems to be in need of new energy. Not only in terms of its objective to participate in the covers of the future oil and gas industry, but also in its fundamental development of company structures and legal infrastructure. With low growth in insurance premiums – some 4 percent in 2015

Excursion into Lebanese journalistic futures

Lebanon has a tradition of freedom of speech. This tradition finds expression in media freedom, intellectual discourse, academic debate and a general atmosphere or spirit that makes Beirut a regional capital of thought and center of attraction for far more people than just journalists and academics. This status is intangible; it cannot be expressed as

The eternal crisis

Make no mistake about it, it is not a new idea that media types are today’s variant of preachers. Whether they work in advertising or in news media, the profession features a whole gamut of prophets, proselytizers and missionaries. The message about this land according to Amos (the prophet, not the communications satellites) was that

An awfully quiet year

When compared with the banking sector and the initiatives taken by Banque du Liban (BDL), the year was unnervingly quiet for the country’s insurance industry. Preliminary information on the performance of insurance companies suggests that the 4 percent growth in gross premiums to $1.2 billion at the end of the third quarter was low when

A promise of wealth

Oussama Kaissi is the chief executive officer of the Islamic Corporation for the Insurance of Investment and Export Credit (ICEIC), the insurance arm of the Islamic Development Bank (IDB). The IDB is a Saudi Arabia-based multilateral organization which comprises a group of Islamic institutions in the realm of finance. Executive sat down with Kaissi to

A retrospective

It is understandable that Freddie Baz, the chief strategist of Lebanon’s largest bank, Bank Audi, presented a divergent view from the central bank’s narrative explaining the latter’s financial engineering (see story and infographic). Whereas the analysis picture drawn by Banque du Liban (BDL) focused on the very positive impacts of this quantitative easing measure, Baz

Big money

In May 2016, Banque du Liban (BDL), Lebanon’s central bank, completed the first phase of a swap operation with the Ministry of Finance (MoF). Following that, BDL pulled the financial engineering tool out of its bag. It proceeded to banks with an offer to enter into a transaction in which they would have to bring

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