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Getting Started

by William Long

Well, better late than never. At least that’s the sentiment of some of Lebanon’s top bankers, eager as they are to satiate an increasingly ravenous global and local appetite for Islamic Banking (IB) services.Indeed, as with so many aspects of Lebanon’s socio-economic maze, the country’s relatively late entry to the IB trend is puzzling, if nothing else.We host many of the leading banks in the region, we are routinely ranked as the top country for Human Resources recruiting, and Gulf investors, typically the ones most interested in conservative investing, have long made Lebanon a second home of sorts – both financially and from a tourism perspective.Moreover, according Jamil Jaroud, Deputy General Manager at Lebanon’s Arab Finance House, an estimated seven billion dollars in deposits is potentially available from Lebanese who want to invest their money here according to Sharia principles.“This industry should be very crucial to the Lebanese economy,” said

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