The Secret Behind Lebanon’s Successful Banking Sector

An appreciation of Lebanon’s central bank Governor Riad Salameh and his policies which made Lebanon avoid the international financial crisis:

Apart from Lebanon’s conservative lending policies, another key factor behind the country’s financial well-being was the surprising insights of the governor of Lebanon’s central bank — Riad Salameh — who in 2007 ordered the country’s private banks to exit all mortgage-backed securities and brace for the financial crash he saw looming.[5] “You could have thought [he] had a crystal ball,” said Edward Gardner of the International Monetary Fund (IMF) regarding Salameh’s actions

If you’re into the nitty gritty of finance and economic policy, this is a great piece to read. It will leave you with a new admiration for the man steering Lebanon’s monetary policy.