Lebanon: Top banker calls for help
Top Bankers has urged the Lebanese government to take action over the economy
Click here to add Bank of Beirut as an alert
Disable alert for Bank of Beirut,
Click here to add Beirut as an alert
Disable alert for Beirut,
Click here to add Salim Sfeir as an alert
Disable alert for Salim Sfeir,
Click here to add The Central Bank as an alert
Disable alert for The Central Bank
A leading Lebanese banker called [on] Friday for a series of measures to restore the confidence of investors in Lebanon.
Salim Sfeir, the chairman of Bank of Beirut, told participants in the second Lebanon Economic Forum that the authorities must hammer out a modern tax plan, offering incentives to the economy by beefing up the Beirut bourse, providing job opportunities to youth, encouraging investors to invest in the country and reducing taxes on productive investments.
Sfeir said more attention should be paid to rural areas and improving development projects.
“I am not asking politicians to abandon their policies, but I am urging them to make the economy an important cornerstone of their practices and to benefit from the experiences of other countries which had similar experiences,” he added.
Sfeir said that 32,608 students had graduated from universities this year, but most of them left Lebanon in search of jobs.
“We need to pay more attention to the needs of our youth and to make them a considerable force to buttress the economy,” he said.
Sfeir praised the efforts of the financial authorities and most notably the Central Bank, which assisted in the subsidized loan programs that helped stimulate tourism, industry, agriculture and technology.
The Central Bank and state-owned Kafalat have launched several soft loan programs to allow small and medium entrepreneurs to promote their businesses.
- Yemen Central Bank headquarters to relocate from Sanaa to Aden
- Show me the money: Lebanon addresses bank transfer delay problems
- Swiss Leaks revisited: Strong Egyptian presence in banking scandal
- Saudi market plans IPO in 2018
- Understanding the ripple effect: 8 reasons the US economy has slowed down in Q1 of 2015
- Restoring confidence: Can S&P bank upgrade help Lebanon's economy?
- Lebanon’s parliament is in hot water with Eurobonds. Can the Central Bank help?
- 8-year-old Yemeni child dies at hands of 40-year-old husband on wedding night
- Bank of Beirut CEO urges diaspora to invest in Lebanon
- Presidential vacuum, Syrian crisis leaves Lebanon's business leaders more than worried