List of Banks in Lebanonанаwikipedia, the Free Encyclopedia Top Banks

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List of Banks in Lebanonанаwikipedia, the Free Encyclopedia Top Banks

top banks in lebanon Sign in Web News Shopping Images Maps More Search tools About 10,100,000 results (0.38 seconds) Top Tier Lebanese Banks[edit] Banque de la Méditerranée S.A.L. (BANK MED) Byblos Bank S.A.L. Audi Saradar Bank S.A.L. Bank Audi S.A.L. Bank of Beirut S.A.L. Banque du Liban et d'OutreMer S.A.L. (B.L.O.M. BANK) Crédit Libanais S.A.L. Federal Bank of Lebanon S.A.L. More items... List of banks in Lebanon Wikipedia, the free encyclopedia en.wikipedia.org/wiki/List_of_banks_in_Lebanon Wikipedia Feedback Top Banks in Lebanon MarcoPolis www.marcopolis.net/topbanksinlebanon.htm The following list summarizes introduces the banking sector and presents top banks in lebanon. The leading banks in lebanon are also called alpha banks. List of banks in Lebanon Wikipedia, the free encyclopedia en.wikipedia.org/wiki/List_of_banks_in_Lebanon Wikipedia Jump to Top Tier Lebanese Banks Top Tier Lebanese Banks[edit] Banque de la Méditerranée S.A.L. (BANK MED) Byblos Bank S.A.L. Audi Saradar Bank S.A.L. Bank Audi S.A.L. Bank of Beirut S.A.L. Banque du Liban et d'OutreMer S.A.L. (B.L.O.M. BANK) Crédit Libanais S.A.L. Federal Bank of Lebanon S.A.L. [PPT] 6 Lebanese banks in the top 10 strongest commercial ban… www.theasianbanker.com/workspace.html?mod=default&method... 6 Lebanese banks in the top 10 strongest commercial banks in the Middle East. Strength Rank 2011. AB 500 Rank 2011. Commercial Bank. Country. Aggregate ... Top Lebanese Banks by Assets The Banker www.thebanker.com/...Lebanon.../TopLebaneseBanksby... The Banker Top Lebanese Banks by Assets. « Previous image. |. Local focus gives Lebanon a record year. |. Next image. » Top Lebanese Banks by Assets ... Welcome to BBAC Bank website | Bank in Beirut, top banks ... https://www.bbacbank.com/ In accordance with the Central Bank of Lebanon's regulations, all wire transfers from and to Lebanon must include the beneficiary's IBAN.To generate your IBAN, ... Categories of Banks, ABL Association of Banks in Lebanon www.abl.org.lb/AllClassification.aspx?pageid=129 Lebanese Banks S.A.L. 1. ( 1) FRANSABANK S.A.L. 2. ( 10) BANQUE LIBANO FRANCAISE S.A.L. Lebanese Banks S.A.L. with Arab Control. 1. ( 3) BANQUE MISR LIBAN S.A.L. (BML SAL) 2. ( 34) SYRIAN LEBANESE COMMERCIAL BANK S.A.L. Arab Banks. 1. ( 5) ARAB BANK P.L.C. 2. ( 9) RAFIDAIN BANK. Foreign Banks. 1. ( The Financial Results of the Three Largest Lebanese Banks ... www.blombank.com/.../financialresultsofthethreelargestlebaneseba... Although BLOM Lebanon PMI showed a contraction of private sector's economic activity in the second half of the year, the three largest Lebanese banks ... Profits of top 14 banks in Lebanon up 5% to $910.5m in first ... www.iloubnan.info/.../Profitsoftop14banksinLebanonup5percentto... Sep 6, 2014 The unaudited consolidated net profits of the Alpha Group of banks reached $910.5m in the first half... Eight Lebanese banks among Top 1000 banks in the world ... www.iloubnan.info/.../eightlebanesebanksamongtop1000banksinthe... Jul 24, 2014 In its 2014 survey of the Top 1000 commercial banks in the world, The Banker magazine included eight Lebanese banks on the list, unchanged ... BEST BANKS 2014: MIDDLE EAST | Global Finance ... https://www.gfmag.com/magazine/may.../bestbanks2014middleeast May 7, 2014 BLOM Bank was the only one of Lebanon's top three banks to register an increase in earnings last year, although all three succeeded in ... Searches related to top banks in lebanon alpha banks lebanon list of alpha banks in lebanon best bank in lebanon top 10 lebanese banks list of banks in lebanon lebanese banks ranking list of top 10 banks in lebanon top 5 banks in lebanon 1 2 3 4 5 6 7 8 9 10 Next Unknown Use precise location Learn more Help Send feedback Privacy Terms.

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Lebanon Summary
Public Disclosure Authorized IFC Mobile Money Scoping Country Report: Lebanon Alaa Abbassi, Andrew Lake, Cherine El Sayed Public Disclosure Authorized May, 2012 Public Disclosure Authorized Public Disclosure Authorized Lebanon Summary Overall readiness rating 4 (Moderately high readiness for Bank Centric Mobile Money deployment in high income segments) 3 (Medium readiness for the mid market, those unable to afford smart phones) Current mobile money solution The banks have begun implementing mobile money – both mobile payments and mobile banking. This is being done by the banks on their own and in conjunction with Mobile payments suppliers within Lebanon. Population 4.14 mil * Mobile Penetration 68% 2010 (High) ** Banked Population 2.5 mil (60%) (Moderately high) *** Remittance % of GDP Outbound $3,737 mil (9.7%) *** Inbound $7,558 mil (19.6%) *** Percent under poverty line 28% * Economically Active population 1,48 mil (36%) * Adult Literacy 87.4% * Main banks Bank Audi, Blom Bank, Byblos Bank, Fransabank, Bankmed, BLF MobileIFC Opportunities Network Operators MTC Touch 1,724,854 (54%) Alfa 1,482,819 (46%) Ease of doing business Ranked 104 in the world, better than Pakistan, worse than Seychelles **** Sources: * https://www.cia.gov/library/publications/the-world-factbook/geos/le.html ** TRA annual report 2010 *** http://elibrary-data.imf.org/DataReport.aspx?c=2529608&d=33060&e=161939 **** http://doingbusiness.org/rankings • Macro-economic Overview • Regulations • Financial Sector • Telecom Sector • Distribution Channel • Mobile Financial Services Landscape Macro-Economic Overview Key Country Statistics Insights • Population: 4.14 mil • Lebanon is a small country, both in terms of population size and geography. • Age distribution: 23% (0 – 14 years) 68% (15 - 64 years) 9% (>65 years) • It has a sophisticated banking industry which serves 60% of the population (2.48 mil • Urban/rural split: 87% urban people, through 900 branches).
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IFC Mobile Money Scoping Country Report: Lebanon Alaa Abbassi, Andrew Lake, Cherine El Sayed
IFC Mobile Money Scoping Country Report: Lebanon Alaa Abbassi, Andrew Lake, Cherine El Sayed May, 2012 Lebanon Summary Overall readiness rating 4 (Moderately high readiness for Bank Centric Mobile Money deployment in high income segments) 3 (Medium readiness for the mid market, those unable to afford smart phones) Current mobile money solution The banks have begun implementing mobile money – both mobile payments and mobile banking. This is being done by the banks on their own and in conjunction with Mobile payments suppliers within Lebanon. Population 4.14 mil * Mobile Penetration 68% 2010 (High) ** Banked Population 2.5 mil (60%) (Moderately high) *** Remittance % of GDP Outbound $3,737 mil (9.7%) *** Inbound $7,558 mil (19.6%) *** Percent under poverty line 28% * Economically Active population 1,48 mil (36%) * Adult Literacy 87.4% * Main banks Bank Audi, Blom Bank, Byblos Bank, Fransabank, Bankmed, BLF MobileIFC Opportunities Network Operators MTC Touch 1,724,854 (54%) Alfa 1,482,819 (46%) Ease of doing business Ranked 104 in the world, better than Pakistan, worse than Seychelles **** Sources: * https://www.cia.gov/library/publications/the-world-factbook/geos/le.html ** TRA annual report 2010 *** http://elibrary-data.imf.org/DataReport.aspx?c=2529608&d=33060&e=161939 **** http://doingbusiness.org/rankings • Macro-economic Overview • Regulations • Financial Sector • Telecom Sector • Distribution Channel • Mobile Financial Services Landscape Macro-Economic Overview Key Country Statistics Insights • Population: 4.14 mil • Lebanon is a small country, both in terms of population size and geography. • Age distribution: 23% (0 – 14 years) 68% (15 - 64 years) 9% (>65 years) • It has a sophisticated banking industry which serves 60% of the population (2.48 mil • Urban/rural split: 87% urban people, through 900 branches).
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UANI's Letter to Banque Du Liban's
P.O. Box 1028 | New York, NY 10185-1028 | (212) 554-3296 May 28, 2012 Governor Riad T. Salamé Banque du Liban Masraf Lubnan Street P.O. Box 11-5544 Beirut, Lebanon Re: Lebanon Operates as a Sovereign Money Laundering Enterprise/The Fraudulent Scheme to Support Lebanon’s Sovereign Backed Securities/The Central Role of Banque du Liban in the Fraud/Determination Under Section 311 of the USA PATRIOT Act Dear Governor Salamé, This letter responds to your letter of February 24, 20121 and the correspondence and “Basic Circular” that you sent to me on April 4, 2012.2 Our team at United Against Nuclear Iran (“UANI”) was surprised by the statements contained in your letter that appear either to be ill-informed or demonstrably false and misleading. Upon receipt of your correspondence, UANI has undertaken a thorough review and analysis of the activities of Banque du Liban (“BDL”), Lebanon’s central bank, and the Lebanese banking system (“LBS”) both in the public record and through confidential sourcing. Based on the analysis that we describe to you in the below and the attached, UANI has serious concerns regarding the legitimacy of BDL, the LBS and your role as the Governor of the BDL. Introduction As a result of the actions and omissions of BDL and the LBS, Lebanon has become a sovereign money laundering jurisdiction that receives massive inflows of illicit deposits. Those illicit monies are generated from Hizballah terror and criminal activities, and the illicit symbiotic relationships among Iran, Syria and Hizballah that is founded on terrorism, the material support of terrorism, and weapons transfers, including as related to weapons of mass destruction.
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UC Berkeley UC Berkeley Electronic Theses and Dissertations
UC Berkeley UC Berkeley Electronic Theses and Dissertations Title Constructing Resilience: Real Estate Investment, Sovereign Debt and Lebanon’s Transnational Political Economy Permalink https://escholarship.org/uc/item/0mm2c8d5 Author Tierney, Julia Publication Date 2017 Peer reviewed|Thesis/dissertation eScholarship.org Powered by the California Digital Library University of California Constructing Resilience: Real Estate Investment, Sovereign Debt and Lebanon’s Transnational Political Economy by Julia Tierney A dissertation submitted in partial satisfaction of the requirements for the degree of Doctoral of Philosophy in City and Regional Planning and the Designated Emphasis in Global Metropolitan Studies in the Graduate Division of the University of California, Berkeley Committee in charge: Professor Teresa Caldeira, Chair Professor Ananya Roy Professor Michael Watts Professor Cihan Tugal Spring 2017 Constructing Resilience: Real Estate Investment, Sovereign Debt and Lebanon’s Transnational Political Economy Copyright 2017 by Julia Tierney Abstract Constructing Resilience: Real Estate Investment, Sovereign Debt and Lebanon’s Transnational Political Economy by Julia Tierney Doctoral of Philosophy in City and Regional Planning And the Designated Emphasis in Global Metropolitan Studies University of California, Berkeley Professor Teresa Caldeira In urban studies scholarship, Lebanon is often theorized on the frontiers of sectarian conflict as well as on the frontlines of neoliberalism. Entangling real estate investment, sovereign debt and transnational financial circulations from Arab Gulf investors and the Lebanese diaspora, managed by the Banque du Liban and scrutinized by the United States Treasury, the Lebanese political economy was – and still is – swayed by the fortunes of war. According to literature on the political economy of violence, profits are often made in times of war, a context appropriate to the civil war and postwar eras, during which spoils of war enriched the pockets of warlords-turned-politicians.
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Lebanon Banks.Pdf
942-951.qxd 14/01/2011 09:19 Õ Page 2 AL BAYAN BUSINESS GUIDE BANKS IN LEBANON - Amyoun: Tel: (06)955600 - Fax: (06) 955605 AHLI INTERNATIONAL BANK - Ashrafieh: (Charles Malek Avenue) Tel:(01) 200250-3 -Fax:(01)200724 - General Manager : M. Michel Saroufim - Ashrafieh: (Sassine Square) Tel / Fax: (01)200640 - Assistant General Manager : M. Fadi Zablit - Ashrafieh: (Sassine Street) Tel: (01) 217064 - Fax: (01) 216954 - Assistant General Manager : M. Aed Jalloul - Ashrafieh: (Saydeh) Tel: (01)200753 - Fax: (01)204972 HEAD OFFICE: - Ashrafieh: (Sodeco)Tel: (01) 612790 - Fax: (01) 612793 Bab Idriss - Omar Daouk Str. - Ahli International Bank SAL. Bldg - Beirut - Lebanon: - Baabda: Tel: (05)451452 - Fax: (05)953236 Tel: (1)970920 - Fax: (1)970944 - Bab Idriss: Tel: (01)977588 - Fax: (01) 999410 P.O.B: 11-5556 Riad El Solh - Beirut 1107 2200 Lebanon - Badaro: Tel: (01)387395 - Fax: (01) 387398 E-mail: [email protected] - Basta-Noueiri: Tel / Fax: (01) 661323 BRANCHES: - Bechara El-Khoury: Tel/Fax: (01) 664093 - Bab Idriss: Main Branch: Tel: (1)970920 - Fax: (1)970952 - Bhamdoun: Tel: (05) 261285 - Fax: (05) 261289 - Dora: Tel: (1)899121 - Fax: (1)894721 - Bint Jbeil: Tel: (07)450900 - Fax: (07) 450904 - Hamra: Tel: (1) 340270 - Fax: (1)742843 - Bliss: Tel: (01)361793 - Fax: (01) 361796 - Galerie Semaan: Tel: (5)954630 - Fax: (5)954632 - Bourj-Hammoud: Tel / Fax: (01) 263325 - Jdeideh: Tel: (1)881680 - Fax: (1)883891 - Broummana: Tel: (04)860163 - Fax: (04)860167 - Kaslik: Tel: (9)210769 - Fax: (9)210773 - Chekka: Tel : (06)545379 - Fax: (06)541526 - Saida: Tel: (7)728930 - Fax: (7)728931 - Chiyah: Tel: (01)541120 - Fax: (01)541123 - Tripoli: Tel: (6)430106 - Fax: (6)432720 - Chtaura: Tel: (08) 542960 - Fax: (08)544853 - Verdun: Tel: (1)797079 - Fax: (1)797082 - Dora (Cité Dora): Tel: (01)255686 - Fax: (01)255695 - Dora (City Mall): Tel: (01) 884114 - Fax: (01) 884115 ARAB AFRICAN INTERNATIONAL BANK - Dora (Vartanian Center): Tel / Fax: (01)250404 - Beirut Branch Manager : M.
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Lebanon This Week
Issue 364 July 21 - August 2, 2014 Economic Research & Analysis Department LEBANON THIS WEEK In This Issue Charts of the Week Economic Indicators.....................1 Performance of Arab Stock Markets in the First Seven Months of 2014 (% change) Capital Markets............................1 Lebanon in the News....................2 43.4 44 IMF calls for broad-based reforms to 36 30.1 avoid further economic weakening, dete- 28 24.1 rioration in public finances and loss of 19.7 17.8 17.8 16.5 competitiveness 20 13.6 Lebanon ranks 77th globally, eighth 12 6.7 5.8 5.4 3.4 2.4 among Arab countries in terms of inno- 4 vation -4 Lebanon has 65th highest level of human -5.6 -12 -6.7 -8.2 development globally, eighth highest -10 among Arab countries -20 -17.2 Occupancy rate at Beirut hotels at 49%, Iraq room yields down 20% in first half of Dubai Egypt Qatar Syria Libya Oman Jordan Kuwait Sudan Bahrain Tunisia 2014 Lebanon Morocco Palestine Abu Dhabi Saudi Arabia Consumer Price Index down 0.7% in Arab Markets June 2014 Customs receipts down 11% to $657m in Performance of the Beirut Stock Exchange* first half of 2014 129 130 126 125 124 Central Bank to support the government's 125 123 foreign currency needs, calls for stricter 120 monitoring of deposit flows 120 120 115 Corporate Highlights ...................7 110 105 105 104 Byblos Bank's profits at $70m in first 105 103 103 101 half of 2014, NPLs ratio at 0.8% 100 Stock market activity up 34% to $247m in first seven months of 2014 April May June Jul-13 August Jan-14 March Jul-14 October February
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Consolidated Balance Sheet of All Banks Al-Baraka Bank Sal Emirates Lebanon Bank Sal O.W
Consolidated balance sheet of all banks Al-Baraka Bank Sal Emirates Lebanon Bank Sal o.w. Bekaa 70 Al-Bilad Islamic Bank for Investment & Finance PSC Federal Bank of Lebanon Sal Overseas Banking Network 422 AM Bank Sal Fenicia Bank Sal Arab African International Bank FFA Private Bank Sal Remarks: Arab Bank Plc Finance Bank Sal Figures herein are based on the consolidated financial statements as Arab Bank (Switzerland) Lebanon Sal First National Bank Sal released by the banks including all their subsidiaries. Audi Investment Bank Sal Fransa Invest Bank Sal Audi Private Bank Sal Fransabank Sal B.L.C. Bank Sal HBL Habib Bank 1- The capital adequacy ratio was estimated on basis of 38 banks out Bank Audi Sal IBL Bank Sal of 46 in 2017 and 2016. Bank of Baghdad Private S.A. Co. IBL Investment Bank Sal 2- Arab African International Bank did not communicate its income Bank of Beirut Invest Sal Jammal Trust Bank Sal statement for both years. The consolidated figures does not include Bank of Beirut Sal Lebanese Swiss Bank Sal estimates. Bankmed Sal Lebanon and Gulf Bank Sal 3- Syrian Lebanese Commercial Bank Sal did not communicate its Banque Bemo Sal Libank Sal (Levant Investment Bank) figures in 2017, the consolidated figures include estimates. Banque de Crédit National Sal Lucid Investment Bank Sal 4- Arab Finance House Sal (Islamic Bank) and Lebanese Islamic Bank Banque de l’Habitat Sal MEAB Sal Sal were not included in our analyses because of the specific nature Banque Libano-Française Sal MedInvestment Bank Sal of the banks activity.
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THE IMPACT of CORPORATE GOVERNANCE on the PERFORMANCE of LEBANESE BANKS Hani El-Chaarani, Beirut Arab University
The International Journal of Business and Finance Research ♦ VOLUME 8 ♦ NUMBER 5 ♦ 2014 THE IMPACT OF CORPORATE GOVERNANCE ON THE PERFORMANCE OF LEBANESE BANKS Hani El-Chaarani, Beirut Arab University ABSTRACT This study examines the impact of corporate governance on financial performance of Lebanese banks during five years (from 2006 to 2010). Based on 182 observations, a quantitative method of data analysis was employed to investigate the relevance of corporate governance mechanisms. The first finding reveals a positive impact of independent boards on the performance of Lebanese banks. The research also finds a significant and negative relationship between CEO duality and bank performance. Finally, the paper reveals a positive impact of insider ownership concentration on the return of Lebanese banks indicating the more shares held by insiders, the better the performance. The weaknesses of corporate governance in some Lebanese banks might be compensated by higher insider ownership concentration. JEL: G2, G3 KEYWORDS: Lebanese Banks, Financial Performance, Financial Trust, Corporate Governance. INTRODUCTION ebanese banks play a key role in the Lebanese economy and dominate the financial system. Despite instability in Arab countries, confidence in the Lebanese banking system is solid due to several L characteristics that attract the foreign capital. Recently, the sector is characterized by high systematic liquidity with overall confidence and trust from both investors and depositors. The safety of depositors’ funds occurs based on solid banking secrecy, enhanced under supervision of the central bank which is the regulatory authority. According to the Association of banks in Lebanon (ABL), Lebanese banks have Strong growth and balance sheet activity. They are well capitalized with good returns.
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Remittances to Lebanon: Economic Impact and the Role of Banks By: Ali Awdeh Union of Arab Banks Presentation Outline 1
National Workshop on: Remittances and Economic Development in Lebanon Remittances to Lebanon: Economic Impact and the Role of Banks By: Ali Awdeh Union of Arab Banks Presentation outline 1. Introduction 2. Facts about remittances to Lebanon 3. Economic impact of remittances to Lebanon 4. The role of Lebanese banks in attracting remittances: ◦ The global network of Lebanese banks ◦ Expatriates products and services offered by Lebanese banks Remittances to Lebanon Lebanon is a notable case of a remittance- dependent economy, with a steady outflow of emigrants that ensure regular inflows of remittances. Financial inflows from Lebanese Diaspora exhibited remarkable stability in the face of significant political turbulences over the past few years. Remittances to Lebanon: some facts Lebanon’s remittance inflows ($ billions) 8.0 7.6 7.2 6.9 6.9 6.9 7.0 5.8 6.0 5.6 5.2 4.9 5.0 4.7 4.0 3.0 2.5 2.0 1.0 0.0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Inflows to Lebanon as % of nominal GDP 35 Exports of 30 goods and services 25 FDI 20 Remittances 15 10 5 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Remittances as percentage of nominal GDP 2007 2008 2009 2010 2011 2012 Arab World 1.8 1.7 1.8 1.8 1.5 1.5 Algeria 0.1 0.1 0.1 0.1 0.1 0.1 Egypt 5.9 5.3 3.8 5.7 6.1 7.3 Jordan 20.1 17.3 15.1 13.8 12.0 11.5 Lebanon 23.0 23.9 21.8 18.6 17.2 16.1 Morocco 8.9 7.8 6.9 7.1 7.3 6.8 Sudan 2.2 2.9 4.0 1.7 0.7 0.7 Syria 2.6 na na na na na Tunisia 4.4 4.4 4.5 4.6 4.3 5.0 Yemen 6.1 5.2 4.7 4.8 4.4 na Non--residentresident deposits compared
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Constructing Resilience: Real Estate Investment, Sovereign Debt and Lebanon's Transnational Political Economy by Julia Tierney
Constructing Resilience: Real Estate Investment, Sovereign Debt and Lebanon’s Transnational Political Economy by Julia Tierney A dissertation submitted in partial satisfaction of the requirements for the degree of Doctoral of Philosophy in City and Regional Planning and the Designated Emphasis in Global Metropolitan Studies in the Graduate Division of the University of California, Berkeley Committee in charge: Professor Teresa Caldeira, Chair Professor Ananya Roy Professor Michael Watts Professor Cihan Tugal Spring 2017 Constructing Resilience: Real Estate Investment, Sovereign Debt and Lebanon’s Transnational Political Economy Copyright 2017 by Julia Tierney Abstract Constructing Resilience: Real Estate Investment, Sovereign Debt and Lebanon’s Transnational Political Economy by Julia Tierney Doctoral of Philosophy in City and Regional Planning And the Designated Emphasis in Global Metropolitan Studies University of California, Berkeley Professor Teresa Caldeira In urban studies scholarship, Lebanon is often theorized on the frontiers of sectarian conflict as well as on the frontlines of neoliberalism. Entangling real estate investment, sovereign debt and transnational financial circulations from Arab Gulf investors and the Lebanese diaspora, managed by the Banque du Liban and scrutinized by the United States Treasury, the Lebanese political economy was – and still is – swayed by the fortunes of war. According to literature on the political economy of violence, profits are often made in times of war, a context appropriate to the civil war and postwar eras, during which spoils of war enriched the pockets of warlords-turned-politicians. Yet as the effects of the Syrian conflict spill across the border, encumbering Lebanon’s long paralyzed politics, straining its already deteriorated infrastructure and intensifying uncertainty with punctuated bombings, certain sectors prosper not because of violence but in spite of it.
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Overview of the Lebanese Financial System Amid the Crisis 1. the Twin Deficit Phenomenon in Lebanon
General Secretariat – Research Department March 2021 Overview of the Lebanese Financial System amid the Crisis 1. The twin deficit phenomenon in Lebanon: the root of the crisis Lebanon is one of the mostly indebted countries in the world, with a debt-to-GDP ratio reaching 171.7% by the end of 2020 according to the IMF. This mounting debt has resulted from decades of lack of planning, the adoption of failed economic and financial policies, the continuous budget deficit, the exceptionally high cost of borrowing, and the rampant corruption. In fact, the budget deficit may summarise the repercussions of all the above listed factors, where this deficit (Figure 1) in its turn contributed to boosting public debt to unsustainable levels. Figure 1: Budget deficit in Lebanon as percentage of GDP 35 30 25 20 15 10 5 0 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Source: IMF, October 2020. This large deficit in government balance was coupled with a similar – large and continuous – deficit in the current account of the balance of payments in Lebanon (Figure 2), which proves the prevalence of the Twin Deficit phenomenon in Lebanon. Despite the large remittance inflows Lebanon received from its diaspora, the economic and monetary policies adopted after the civil war that ended in 1990, have resulted in constant retreat in the productive sectors, provoking a decline in exports and increase in imports. Consequently, Lebanon recorded a constant deficit in its balance of payments, with very low levels of employment and economic growth.
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The Role of Lebanese Banks in Supporting Remittances
WORKSHOP ON: REMITTANCES AND ECONOMIC DEVELOPMENT CAIRO 3-4 DECEMBER 2014 The Role of Lebanese Banks in Supporting Remittances By: Ali Awdeh Union of Arab Banks REMITTANCES TO LEBANON Lebanon is a notable case of a remittance-dependent economy, with a steady outflow of emigrants that ensure regular inflows of remittances. Financial inflows from Lebanese Diaspora exhibited remarkable stability in the face of significant political turbulences over the past few years. REMITTANCES TO LEBANON: SOME FACTS Over 80% have completely lost touch with the homeland! LEBANON’S REMITTANCE INFLOWS ($ BILLIONS) 9.0 8.0 7.6 7.6 7.7 7.2 6.9 6.9 6.9 7.0 6.0 5.6 5.8 5.2 4.9 5.0 4.7 4.0 3.0 2.5 2.0 1.0 0.0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014e LEBANON’S REMITTANCE INFLOWS – CONT. The World Bank projected expatriates’ remittance inflows to Lebanon to reach $7.67 billion in 2014, constituting an increase of 1.6% from 2013. Lebanon would be the 18th largest recipient of remittances globally and the 13th largest recipient among 135 developing economies in 2014. It would be the second largest recipient of remittances among 16 Arab countries and the third biggest recipient among 48 Upper Middle Income Countries (UMICs). LEBANON’S REMITTANCE INFLOWS – CONT. Further, Lebanon would post the 12th highest growth rate in remittance flows among the 15 largest recipients of remittances in developing economies this year, ahead of India (+1.5%), Egypt (+0.9%) and Ukraine ( -6.9%).
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