Le­banese banks must ex­pand: union chief

The Pak Banker - - Company& -

BEIRUT: Le­banese banks must ur­gently con­sider ex­pand­ing their op­er­a­tions to other Arab and for­eign coun­tries to be bet­ter able to in­vest the ex­cess of their de­posits in projects and se­cure their share­hold­ers' prof­its, said a se­nior banker has said.

"Le­banon has strong banks with huge amounts of cap­i­tal but their ex­pan­sion to other coun­tries in the com­ing few years is cru­cial be­cause share­hold­ers are ex­pect­ing the same or even higher prof­its on their in­vest­ments," Chair­man of the Union of Arab Banks Ad­nan Youssef told The Daily Star Fri­day night on the side­lines of a news con­fer­ence held at the Moven­pick Ho­tel in Beirut to dis­cuss the growth po­ten­tial of the Arab bank­ing sec­tor. How­ever, bank­ing ex­perts have con­stantly expressed their con­cerns about the ne­ces­sity of find­ing new ways to in­vest this huge amount of liq­uid­ity in or­der to keep in­fla­tion un­der con­trol. -PB News

IS­LAM­ABAD: Fed­eral Min­is­ter for Hous­ing Rehmat Ul­lah Kakar meet­ing with Matt Cronje, Coun­try G-M Emaar Pak­istan. -App

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