Behind the destroyed, unlit roads and the vacancy of its downtown, Beirut has enormous skyscrapers that play the function of the headquarters of Lebanon’s native banks. The story of the Lebanese profitable banking popularity dates again to the inception of the Lebanese state in 1943. You possibly can pinpoint the success of this sector to many various points, together with however not restricted to the central financial institution’s once-strict financial coverage, the acquisition of big quantities of gold within the 20th century making Lebanon the third-largest holder of gold per capita on this planet and primary within the center east and north of Africa, or the banking secrecy law that imitate the Swiss banking sector which attracted many rich people and companies to leverage it. Additionally, underneath the customarily seemingly under-developed points of the nation, lies an enormous public sector, one which gives the look to be all about productiveness and companies, however is definitely welfarist in essence.
Thomas Semaan is a finance and economics fanatic. He launched an Arabic talking podcast about Bitcoin, economics and Lebanon. Thomas can be an energetic member of the Lebanese and Arab Bitcoin neighborhood.