Developing the communityDeveloping

On May 17, Lebanon was on top of the world. Literally. A Lebanese flag had been planted at the summit of Mount Everest, the world’s highest point. And what then, according to the Daily Star, did mountaineer Maxim Chaya do?“He contacted his sponsor, Audi Bank, and thanked them for making his dream come true.”Call it community outreach, or charity, or Corporate Social Responsibility. Banks’ logos can be seen in the sponsor’s position at athletic contests, concerts and art exhibits, and other cultural events around the country. And they also lend their support (and their brand names) to educational, environmental and development efforts.Marwan Kheireddine, General Manager of Al Mawarid Bank, rejects the idea that publicity is the primary goal of CSR spending, at least for his bank. “The objective is not really exposure. The objective is community development.”But Elie Azar of Lebanese Canadian Bank doesn’t see publicity as a bad thing.