Lebanese banks must expand: union chief
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