Banking on Credibility: Lebanon’s Financial Sector Amidst Sanctions and Regional Instability
The Lebanese banking sector has long been the backbone of the country’s economy, with the sector’s capital averaging nearly five times Lebanon’s annual GDP. Since the advent of the Syrian uprising, the financial sector has come under scrutiny due to allegations that Syria, Iran, and Hezbollah are using Lebanese banks to evade international sanctions.
This discussion aims to look at the structure of the banking system in Lebanon, outline the key geo-political challenges it is facing, and shed light on factors contributing to its resilience. Recent accusations leveled against Lebanese banks will also be explored, along with potential steps to ensure continued compliance with international standards.
Featuring
- H.E. Mohammad Chatah, Former Minister of Finance and Senior Foreign Policy Advisor to Former Prime Minister Saad Hariri, Lebanese Republic
- Daniel Glaser, Assistant Secretary for Terrorist Financing, U.S. Department of Treasury
- Mohannad Aama, Managing Director, Beam Capital Management
In a moderated discussion with
Jay Solomon, Chief Foreign Affairs Correspondent, Wall Street Journal