For a long time, there was a widespread belief in Lebanon that the Lebanese sector was highly diversified given the large number of banks (at one stage, the sector had …
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The assassination of former prime minister Rafik Hariri on Valentine’s Day 2005, highlighted Lebanon’s economic vulnerability to sudden political and security events, as reflected in the significant slow down in …
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Since the fateful events of 9/11 in New York, the phenomenon of investment repatriation by Gulf Arabs has accelerated significantly. Indeed, since 2002, Saudi investors are believed to have withdrawn …
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On the eve of World War II, Churchill spoke of there having been enough “jaw, jaw”. Now was the time for “war, war”. He was talking about the failed policy …
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The Lebanese financial sector has long been dominated by commercial banks, which have grown significantly in the post-war period. Indeed, customer deposits have increased threefold since 1995 to reach the …
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For at least the past four years, foreign banks have been leaving Lebanon in regular succession. The exodus began in 2001, when ING Baring sold its franchise to Byblos Bank, …
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The Central Bank (BDL) has coped with great professionalism and efficiency with the resulting monetary and financial crisis, sparked by the Hariri assassination. Not only has it kept a low …
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Rafik Hariri was an inevitable figure in Lebanese politics and economics. The man was greatly responsible for driving Lebanon towards the 21st century and gave the country (admittedly via a …
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In 2003, the Lebanese banking sector showed significant improvement in terms of deposit and asset growth, as well as in terms of profitability. The Paris II conference in late 2002 …
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Banque Audi’s recent move into Jordan is much more than just a reflection of Lebanese pioneering tradition. Lebanon’s dire economic situation has affected the quality of loan portfolios and domestic …