Reflecting the position of banking in the economy, the Association of Banks in Lebanon (ABL) is the country’s most potent group in representing private sector economic interests and influencing future direction. ABL president, Dr. Joseph Torbey, sat with Executive to discuss the current state of the nation’s economic affairs and its prospects. How do you assess the situation in the first quarter of 2005 from the viewpoint of the Association of Banks in Lebanon? Lebanon faced a very dramatic turmoil during the first quarter of this year. This political destabilization had some impact on the banking situation, the economic situation, and also the spirit. The country without [assassinated former Prime Minister Rafik] Hariri is different to the country with Hariri. But in my opinion, the country really recovered. This is also expressed by the behavior of the banking sector and the confidence of depositors. It is important to know that
