The Lebanese banking sector, a long view

ENAR

Lebanon’s geographic location and trading history dictate the need for three basic premises in terms of its Economic Policy: a strong and stable currency, advantageous trading facilities and low taxes. Michel Chiha Once there was a time when a Lebanese banker had a national vision. Whether a contemporary citizen agrees with this vision or not is immaterial for recognizing its historic influence. Even the question whether or not this banker was consciously intending—as some Western academics speculate—to steer the economy in a direction that was optimal for the interest of the financial bourgeoisie in the early and mid-20th century, is unimportant for the consideration that the vision shared by this banker and by his intellectual and social peers has played a profound role in writing the story of this country. It has determined the Lebanese national narrative and the country’s broad economic course for almost a century—the entire period since