Banking & Finance articles

New ABL chair talks adjustments to state budgets and his views on banking

New ABL chair talks adjustments to state budgets and his views on banking

Reading Time: 8 minutes As the banking sector is, for the umpteenth time in the last quarter century, the litmus test for Lebanon’s economic survivability and hopes of prosperity, Executive sat down with Salim Sfeir, chairman and chief executive officer of Bank of Beirut and chairman of the Association of Banks in Lebanon (ABL). E   At the time

The need to reform electronic money transfer regulations

Reading Time: 3 minutes All over the world, every day, millions of financial transactions take place at the press of a button. The words—and now the verbs—PayPal, TranferWise, and Venmo, are to payments what WhatsApp and Facebook are to messaging. Modern electronic money transfer (EMT) services have lowered transaction costs for individuals, facilitated business growth through e-commerce, and made

Creating a price-stable cryptocurrency

Reading Time: 3 minutes It has been a tumultuous time for cryptocurrency investors and advocates alike who have watched the market value of the industry drastically drop in the past year. However, some optimism is growing in the space as committed developers and blockchain advocates shun the daily obsession over price changes. The highly speculative nature of the crypto-market

Toward a cashless society

Reading Time: 5 minutes Banking, like many other industries, is steadily moving toward digitization to accommodate changing lifestyles. People now need solutions to banking challenges that did not previously exist. With busy schedules, more travel, a surge in e-commerce, and a plethora of innovations that are spurring a global shift, the growing tech-native generation is increasingly asking to conduct

Investing in cybersecurity companies

Reading Time: 5 minutes When it comes to predictions for this year, there are some prophecies that are practically risk-free, even outside the notion that the biggest risks of 2019 are not related to financial markets or even economic uncertainty. One such virtually risk-free prediction is that the digital transformation will continue. Another safe one is that Big Data

Outlook and potentials in the Lebanese insurance sector

Reading Time: 3 minutes Regional geopolitical turmoil and ensuing economic uncertainties continue to place increasing pressure on the insurance sector. Stagnation in most of the sectors of the national economy is reflected in slower growth in premiums written by Lebanese insurers, and higher strain on profit margins. In light of this, the Insurance Control Commission (ICC), which is the

The financial situation in Lebanon

Reading Time: 3 minutes This has been a difficult year for the Lebanese economy, sectors of activity, and financial markets at large. Compounding matters, political uncertainties have grown, especially during the second half of 2018. This year has witnessed a low real GDP growth, which Banque du Liban (BDL), Lebanon’s central bank, estimates at 2 percent and the International

Lebanon’s banks remain stable, seeing moderate growth

Reading Time: 12 minutes Socioeconomically, Lebanon at the end of 2018 gives the appearance of having experienced a year of only two seasons: an overlong Carnival of political absurdities, and a Halloween of economic horrors. As opposed to the usual cycles of tilling, seeding, ripening, and harvesting, these two seasons of 2018 were profoundly unproductive. If this failure of

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