Reading Time: 2 minutes Sections and Social Media Editor Executive Magazine is looking to hire a new sections and social media editor starting September 1. The new sections and social media editor will take responsibility for producing and coordinating our coverage of new economic sectors in Lebanon, as well as traditional economic pillars that continue to play important roles, from hospitality to trade…
Executive is hiring!
UNDP and Executive Magazine partner to advance dialogue on addressing corruption in Lebanon
Reading Time: 2 minutes Beirut, 20 August 2020 – The United Nations Development Programme (UNDP) and Executive Magazine, Lebanon’s premier economic, financial, and business magazine, are today announcing a new partnership to support national dialogue on efforts to fight corruption in Lebanon through evidence-based analysis and actionable recommendations. The fight against corruption is a top national priority amid efforts…
To you, our enemy
Reading Time: 2 minutes The massive destruction caused by criminal negligence on behalf of our politicians is impossible to assess. Innocent lives were lost. Property, seaport, livelihoods, schools, hospitals, homes, jobs, businesses, trade, dreams, and aspirations were totally destroyed. The impact of this deadly criminal act will reverberate for years to come. Beyond razing the wonderful cultural heritage from…
Toward building a more inclusive and resilient ecosystem
Reading Time: 3 minutes It is a time when Lebanon is constricted in boundaries like perhaps never before. Its physical land boundaries have long been—as once again recently demonstrated—marked by the contradiction of being repressively impermeable and permanently under threats, and at the same time too permeable and uncertain to offer the full protection of a territorial demarcation. Long…
Lebanon’s anti-corruption movement
Reading Time: 8 minutes Editor’s note: This piece was slightly modified after the Beirut Port explosion. It was, however, largely written prior to August 4 along with the other contributions to the anti-corruption special report. There has not been a time in Lebanon when anti-corruption was a nationwide demand and a necessity for the preservation and development of the country…
Lebanon’s struggle for the right to information
Reading Time: 6 minutes In the three and a half years since Parliament passed Law 28/2017 on access to information (A2I) some progress has been made but there remain barriers to full implementation. Calls for greater transparency and accountability were a major component of the demands of the Lebanese who took to the streets in October last year, seen…
How could asset recovery work for Lebanon?
Reading Time: 5 minutes Each year, developing countries lose between $20 to $40 billion due to bribery, misappropriation of funds, and other corrupt practices. These criminal acts drain economic development initiatives, contribute to further impoverishment, and come with other societal costs, such as the negative impact on education and public health services. One way of combating these practices is…
How Lebanon can learn from other countries’ experiences with asset recovery
Reading Time: 5 minutes Recovering assets corrupt officials have stolen while in government service is a critical part of a government’s fight against corruption. First of all, it deters corruption. If those who would steal from the public while ostensibly serving it know they have little chance of keeping what they take, they will be less tempted to steal…
Does Lebanon need a special anti-corruption court?
Reading Time: 3 minutes In June, Parliament’s Anti-Corruption Subcommittee began discussing the establishment of a special court on financial crimes. Its proposed jurisdiction ranges from counterfeit and forgery of money and documents to bribery and abuse of power by public officials on active and former duty. Such a scope of offenses would fall under what we at the U4…
Lebanon could utilize unexplained wealth orders to recover stolen assets
Reading Time: 4 minutes Asset recovery requires global cooperation. According to the Stolen Asset Recovery (StAR) Initiative database, in 2018 the approximate amount of stolen funds that have been frozen, confiscated, or returned to affected countries since 1980 equals $8.2 billion, involving over 50 requesting and over 40 requested jurisdictions. These numbers, however, pale in comparison to the estimates…
Q&A with legal expert Paul Morcos on judicial capacity and accountability
Reading Time: 6 minutes They are somewhat remote issues from the perspective of daily survival in the summer of 2020. But the questions of financial accountability and judicial processing of the complex aspects of the corrupted system and adequate prosecution of corruption are pregnant with implications for Lebanon’s systemic networks of fiefdoms, sublime tribal rulers, and previously extra-judicial interest…
Q&A with economist Freddie Baz on Lebanon’s economic survival
Reading Time: 20 minutes In discussing Lebanon’s economic survival, some local opinion makers and economists have been making nothing but dire predictions since the fourth quarter of 2019. Executive wanted to take the perspective of Freddie Baz, a Lebanese economist, banker, and citizen who has for over two decades been a regular interlocutor of this magazine on banking and…
Lebanon’s beach club operators discuss summer 2020
Reading Time: 12 minutes On May 31, when beach clubs and resorts were given the green light to open for the season, following the government mandated COVID-19 lockdown measures, operators of such properties were faced with a dreary grey seascape. Not only did they need to learn and invest in new sanitization protocols in an attempt to severely reduce…
Impact of COVID-19 and economic crises on Lebanon’s retailers
Reading Time: 6 minutes Storefront banners and text messages announcing extended clearance sales or “70 percent off” all merchandise have been part of Lebanon’s retail landscape since 2012. Executive has been reporting on the dwindling purchasing power among Lebanese and the overall decrease in tourists from wealthy GCC countries as the reasons behind the gradual decline of the retail…
Signs of positive disruptions in the Lebanese tech ecosytem
Reading Time: 16 minutes Moving counter-cyclically to conventional business wisdom and exhibiting disregard for old boundaries are attributes of enterprising minds, of those daring people who start pursuing an economic opportunity without regard for the current resources at their disposal. In the case of Lebanon in 2020, one could add that these have to be enterprising minds without regard…