ABA member, Dr. Nicolas Bremer, has published a short note on how businesses should respond to the sanctions imposed on Qatar by some Arab countries.
Riyad Salamé Re-Appointed as Governor of Central Bank of Lebanon
Earlier this year there was speculation that Salamé would not be renewed as part of wider changes in the Lebanese government that followed the appointment of Michel Aoun as President in October 2016, breaking a two and a half year deadlock when Lebanon had been without a President or government.
However, Salamé is known to have the trust of the US financial authorities, and when it appeared that the US might be planning to tighten the pressure on Hizbollah's funding sources (and, as a result, increase the pressure on Lebanese banks to show that they are not involved in funding Hizbollah), his re-appointment appeared more likely.
Salamé was brought back to Lebanon in 1993 by Rafik Harriri. Salamé had been working for Merrill Lynch in Paris and had got to know Harriri.
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The Directors and Staff of the Arab Bankers Association send best wishes to our members and their families on the occassion of Eid el-Fitr, the festival that marks the end of the month of Ramadan.
Mohammed al-Tuwaijri, Saudi Arabia's Vice Minister of Economy and Planning, has given an interview with Bloomberg in which he provided some details on the Kingdom's plans to issue more debt, privatise state companies and balance the budget.
Mergers are rare in Gulf banking, but there are currently three significant mergers at various stages of consideration or completion. The ABA's editor takes a look, and provides some statistics.
Now that Ramadan and Eid el-Fitr have passed, and summer is upon us, London is offering a wealth of cultural treats for those interested in the Middle East.