by Executive Contributor

VOICES FROM THE INDUSTRY With total assets amounting to more than three times the Gross Domestic Product and accumulative deposits only a shade below 300 % of GDP, the Lebanese banking industry is the fortune maker and fortune teller of the national economy. With 51 institutions, the sector’s diversity and diversification is enormous, even after undergoing several years of non-confrontational consolidation through mergers and acquisitions. Banks shone in the recent months as they did in previous years as guarantors of stability. Nonetheless, they can never afford to slacken in working for their future which holds sure challenges for the sector, one of them being the need to achieve compliance with the new global Basel II framework of standards for banking organizations, due to be implemented in G10 countries by end of next year. In approaching decision makers at a cross section of leading and innovative banks in Lebanon, Executive asked

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