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BBAC (Bank of Beirut and the Arab Countries) organized an economic forum entitled "The Role of Bank of Beirut and the Arab Countries in the Development of Economic Sectors in the ChoufArea", under the patronage of Mr. Taymour Walid Jumblat and in cooperation with the Coordinating Body of Economic Sectors in Chouf. The forum was launched at a ceremony held at Mir Amin Palace Hotel in Beiteddine in the presence of BBAC's Chairman and General Manager Sheikh Ghassan Assaf, Mr.Taymour Jumblat's representative Mr. Radwan Nasr and many economic and financial experts as well as managers and officials from BBAC.
BBAC's Chairman and General Manager Sheikh Ghassan Assaf gave a speech in which he referred to the importance of this meeting in light of the difficult social and economic conditions Lebanon is facing, asa ray of hope for the Chouf's economic growth, which has always been sought after by the inhabitants of Choufarea.
Sheikh Assaf said: "It isBBAC's duty to come up with initiatives that build a vision to push economic progress forward and uplift the area, by facilitating the funding of enterprises, enabling local companies to seize opportunities, and supporting sustainable economic activity and growth in the Chouf."
He added: "Small and medium-sized enterprises are the main component of Chouf's economy as they are the main source of youth employment. The role of the economy is to stabilize this progress through jobs and investment, and we are in BBAC always ready to support aspiring young, and help them build their projects."
Sheikh Assaf mentioned that entrepreneurs and small and medium-sized enterprises seeking funding for their projects have many options and opportunities thanks to subsidized loans from banks and financial institutions like Banque du Liban(BDL) and Kafalat. All it requires is courage and submitting projects drafts.
Finally, Sheikh Assaf emphasized the importance of BBAC's support and investment in the Chouf,reaffirming the bank's slogan: "Your Caring Bank."
Mr. Radwan Nasr, representing Mr. Taymour Jumblat, noted that the forum acknowledges the difficult conditions Lebanon is experiencing, particularly the economic ones: "We thank BBAC for its distinctive initiativefor the region and its people.Today,we know that we can rely on the banking sector, and hope that BBAC's initiatives become an example for all banks and funding institutions."
Dr. Khater Abi Habib, Chairman and General Manager of Kafalat, hailed BBAC's initiative, and pointed out that the Lebanese private sector is mainly made of small and medium-sized enterprises, which are facing difficulties in obtaining banking funds. He said: "Kafalat helps small and medium-sized enterprises gettingfinancing from banksby giving them financial guarantees for loans to finance productive projects in one of the five supported sectors: industry, agriculture, tourism, advanced technology, and crafts."
BBAC is in constant communication with its customers, whether through its national branch network comprised of 39 branches dispersed throughout various Lebanese regions, or through development initiatives carried out by the bank. BBAC will remain supportive of all initiatives that help the country's national and regional economic growth, proving once again that BBAC is "Your Caring Bank."
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About BBAC
Founded in 1956, BBAC is today one of the leading Lebanese commercial banks, with total assets of USD 5.6 billion. BBAC provides a full scope of banking and financial services to individuals and corporations through an extensive network of 39 branches in Lebanon; one branch in Limassol-Cyprus, two branches in Iraq-Erbil & Baghdad, and two representative offices in Abu Dhabi-UAE and Lagos-Nigeria. As "Your Caring Bank", BBAC constantly strives to be a reliable and accessible financial partner to its customers. Nevertheless, BBAC's care goes beyond the ordinary framework of the banking industry to touch the needs of the whole community through its various social responsibility initiatives.
For more information, kindly visit www.bbacbank.com
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© Press Release 2015
