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Eye of the storm - Lebanon's financial sector prospers despite instability in the region
08 July 2011
Global Investor/isf looks at prospects for the development of Lebanon’s financial services sector against a challenging political and regional backdrop
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Lebanon
Middle East
On the face of it, Lebanon’s financial sector should be well placed to benefit from the rapid political change sweeping through the Middle East. In February, The Economist’s Arab League Index of Unrest identified it as the fourth most stable country among the 17 Arab states included in the index. With political instability characterising many of its neighbours, and investors looking for a safe haven for assets, Lebanon would normally be a leading beneficiary.
But the country is currently wrestling with political problems of its own. In January, its unity government collapsed when members of the Hezbollah party, and their allies – a total of 11 ministers in all – quit the Cabinet. They objected to the fact that the Lebanese Prime Minister, Saad Hariri, refused to consult them on the question of whether or not to name the men suspected in the killing of his...
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