05. The Visit of the Belgian Ambassador
08. BIFEX 2015
14.
DESPITE A COMATOSE POLITICAL CLASS Resourcefulness, drive and entrepreneurship have allowed the Lebanese private sector to establish a faster track towards growth, while the public sector is weighed down by inefficiency, graft and modest levels of educational attainment. With very few exceptions, our bureaucracy is ill-equipped for the jobs and tasks of the 1950s, let alone the skills and knowledge needed for a 21st Century economy. Despite, or rather, because of that, the Lebanese private sector had no choice but to roll-up its sleeves and plow ahead. Franchising is the embodiment of this ‘can do’ attitude. In just a few short years, our sector has become a major player in the Lebanese economy. The sector’s output and jobs compare favorably with older, more established productive sectors. But unlike other economic sectors, our industry also represents a healthy mix of sub-sectors. Broadly defined, they are: hospitality; fashion; home products; and, services. Equally importantly, franchising is well-suited to the Lebanese character, particularly in terms of entrepreneurial spirit, innovative ideas, good taste, and, the “magic touch”…the Lebanese dash which transforms ordinary into extraordinary.
L F A
INDEX
The Retail Observatory
10. The LFA's Gala Dinner
. LFA Reports . Events . Strategic Partner . Projects . Opinion . Trends & Expansion . New Members . LFA GA & New Board . Strategic Partner
Franchising is a vehicle for exporting the unique and universally admired ‘Lebanese way of life’. Lebanon produces highly exportable and innovative franchise concepts, now present in over 40 countries. Lebanese franchisors plant seeds and hoist Lebanese flags overseas. They help to win over consumers to our unique brands, as well as friends for our country. Despite unfavorable conditions, such as regional instability, a paralyzed political class, and a creaky bureaucracy, Lebanese innovators are pushing for modernity and dynamism. In brief, franchising is changing the Lebanese economic landscape. Our fasttrack will bring higher growth, increased employment, greater innovation, more exports…and, a measure of prosperity for all Lebanese.
S T R A T E G I C
P A R T N E R S
ISSUE No7 |SEPTEMBER 2015
CLOSER
L F A
R E P O R T
LFA and USAID: Cooperation for Private Sector Growth The LFA President, Charles Arbid, and Board, received at the LFA Offices, Mr. Georges Frenn, Senior Economic Growth Specialist at USAID – Lebanon, accompanied by Mr. Henri Stetter and Mr. Hayley Alexander, international experts who are working on USAID-funded assessment under the Asia and Middle East Economic Growth Best Practices (AMEG) Project. The assessment focuses on evaluating impediments to private
sector growth — particularly the growth of small and medium sized enterprises (SMEs) — and opportunities for USAID to remove or alleviate these impediments in the future. Mr. Arbid described to the highlevel delegation the growth of the franchising sector in Lebanon over the past few years. He went over the main economic indicators that show the size
and strengths of franchising. Mr. Arbid also explained the role of the LFA in offering high-value services to its members and organizing distinguished events, such as BIFEX.
The Franchise Forward Program TRAINING AND MENTORING TO LFA MEMBERS AND ASSOCIATES In an effort to strengthen the capacities of members and associates, LFA and Franchise Engineers are pleased to announce the upcoming Franchise Forward Program. The program aims at providing training and mentoring to LFA members and associates.
a one-on-one basis to members and associates based on prescheduled appointments at LFA. The mentoring topics for each session will be decided by the participant based on his/ her needs.
Forward The Franchise Program will comprise of a three hour presentation session once a month at LFA’s office, alternating training in one month and mentoring in the next month. Mentoring will be provided on
The proposed Franchise Forward training topics combine franchising skills with financial skills needed by franchise managers. Training may include such topics as franchise sales and negotiations, franchise marketing and support,
structuring a franchise agreement, reading financial statements, budgeting, and preparing business plans. Training and mentoring will be provided by experts from Franchise Engineers sarl (www.franchiseengineers. com), a specialized franchise consulting firm headed by Yasser Kouatly, Certified Franchise Executive and Expert Member of LFA.
L F A
R E P O R T
LFA Vice President Raslan at the Mexico - Lebanon Business Forum The LFA Vice-President, Ms. Madiha Raslan, represented the association and the franchise sector, at the Mexico – Lebanon Business Forum, 18-19 May 2015, at the Phoenicia Hotel. The event was organized to coincide with the visit to Lebanon of H.E. the Minister of Foreign Affairs of Mexico, Dr. José Antonio Meade Kuribreña, at the head of delegation of Mexican business owners and senior officials from ProMéxico and the Mexican Agency for International Development Cooperation. In her presentation, VP Raslan described how 500 innovative Lebanese franchise concepts are making their mark worldwide. VP Raslan spoke about the LFA’s mission to promote Lebanese franchises globally. She expressed her belief that franchising is wellsuited to the skills of the Lebanese, the most important of which are entrepreneurship, innovation and good taste.
Raslan expressed her belief that franchising is wellsuited to the skills of the Lebanese
L F A
R E P O R T
The LFA at the EU Delegation THE LEBANESE FRANCHISE ASSOCIATION (LFA) WAS INVITED TO A MEETING THAT IS ORGANIZED BY THE EU DELEGATION FOR TRADE AND ECONOMIC ATTACHÉS OF THE EUROPEAN UNION MEMBER STATES’ EMBASSIES, TO BRIEF THEM ON ‘THE LFA & FRANCHISING’. The LFA Executive Director, Raja Habre, made a presentation titled “The LFA and Development of Franchising in Lebanon”, before a group of 20 Attachés, including the Austrian, Belgian, French, Italian, Polish, Spanish, among others.
It was a great opportunity for the LFA to inform Lebanon’s major European trading partners about the big strides that franchising has made in a relatively short period of time. After an overview of the LFA’s mission, goals and objectives, the Executive Director explained to the Attachés why franchising is well-suited to the Lebanese, particularly in view of their skills and cultural traits. The LFA wishes to thank the EU Delegation for the kind invitation and valuable opportunity.
Lobbying the Public Sector THE LFA IS A STRONG BELIEVER IN THE NECESSITY OF INFORMING PUBLIC SECTOR OFFICIALS ABOUT THE ADVANCES THAT FRANCHISING IS MAKING IN LEBANON. In that regard, President Arbid and the Board made several visits to key officials, most notably: • H.E. the President of Council of Ministers, Tammam Salam
the Mr.
• H.E. the Minister of Finance, Dr. Ali Hassan Khalil • H.E. the Minister of Tourism,
Mr. Michel Pharaon • H.E. the Minister of Foreign Affairs, Mr. Gebran Bassil • H.E. the Minister of Economy and Trade, Dr. Alain Hakim • H.E. the Minister of Labor, Mr. Sejaan Azzi • H.E. the Environment, Machnouk
Minister of Mr. Mohamad
• H.E. the Minister of Interior and Municipalities, Mr. Nouhad Machnouk • DG of the Ministry of Economy and Trade, Ms. Alia Abbas
These meetings help the LFA to demonstrate that franchising is major player in the Lebanese economy and a major source of exportable, innovative concepts, particularly those concepts that embody the “Lebanese way of life”. There is no doubt that the LFA’s lobbying has made a significant impact on Lebanon economic agenda. The franchising sector is now considered a vehicle for economic dynamism, modernity and jobs.
L F A
R E P O R T
The Visit of the Belgian Ambassador LFA PRESIDENT, CHARLES ARBID, AND THE LFA BOARD, RECEIVED H.E. MR. ALEX LENAERTS, THE AMBASSADOR OF BELGIUM TO LEBANON, AND MR. FADI SAMAHA, PRESIDENT OF THE BELGIAN BUSINESS COUNCIL IN LEBANON, WITH A DISTINGUISHED DELEGATION OF BBCL MEMBERS.
Mr. Arbid provided a snapshot of the franchising sector’s role in the Lebanese economy as well as its mix of sectors. He then briefed the LFA’s esteemed guests on the association’s activities and projects, particularly BIFEX; The Retail Indicators Project; The Lebanese Economy Report; and, the Arab Brands Initiative, among others.
A discussion ensued concerning how to increase the presence of Belgian brands in Lebanon, and how to export Lebanese brands to Belgium. The parties agreed to enhance cooperation between the LFA and the BBCL and the Belgian Franchise Federation, with the support of the Belgian Embassy in Beirut.
L F A
R E P O R T
Back to School The LFA Goes to AUB & LAU THE LFA EXECUTIVE DIRECTOR, RAJA HABRE, AND MEMBER OF THE LFA COLLEGE OF EXPERTS, YASSER KOUATLY, WERE INVITED BY THE OLAYAN SCHOOL OF BUSINESS (OSB), AT AUB, AS WELL AS BY THE INSTITUTE OF FAMILY AND ENTREPRENEURIAL BUSINESS, AT LAU (BYBLOS AND BEIRUT CAMPUSES), TO MAKE PRESENTATIONS ON FRANCHISING.
Many students, in businessrelated programs, at both eminent universities, participated in the informative sessions, the main subject of which was the presentation titled Franchising Bricks: How to Build your Franchise. The LFA is pleased to have been given the opportunity by AUB and LAU to create awareness, among tomorrow’s business leaders, about the amazing concepts and brands that the LFA proudly represents.
L F A
R E P O R T
World Franchise Council Meetings & 2014 Taiwan International Chain and Franchise Exhibition TAIPEI, TAIWAN THE LEBANESE FRANCHISE ASSOCIATION (LFA) EXECUTIVE DIRECTOR, RAJA HABRE, PARTICIPATED IN THE WFC MEETINGS AND THE FRANCHISE EXHIBITION, WHICH WERE HOSTED BY ASSOCIATION OF CHAIN AND FRANCHISE PROMOTION, TAIWAN (ACFPT), BETWEEN 23 AND 28 SEPTEMBER 2014. the slogan “Taiwan, the jewel of the Asia-Pacific region” countless times.
ACFPT brought out Taiwan’s top officials for the event. The President of the Republic, Mr. Ma Ying-jeou, participated in the Gala dinner that ACFPT hosted for the international delegates. The Vice-President, Mr. Wu Den-yih, cut the ribbon at the Exhibition’s inaugural event and delivered a major economic speech. President Ma, Vice-President Wu, and a number of senior Taiwanese officials seemed to have a unified message: Taiwan is a major economic power with global ambitions. They repeated
The 2-day WFC meetings, chaired by Mr. Richard Li, one of Taiwan’s top franchisors, were extremely fruitful. Delegates from over 30 countries discussed important issues related to the WFC and to the global franchise sector, including: •
They repeated the slogan “Taiwan, the jewel of the Asia-Pacific region” countless times.
Round-table discussion on major issues affecting each Association;
• Factors that influence the choice of franchising as a growth strategy; • Proposal to form a WFC Executive Committee; and, •
A WFC Joint Declaration “Clarifying the Structure of Employment in Franchised Business”.
Finally, the 2014 Taiwan International Chain and Franchise Exhibition included over 200 exhibitors who showcased Taiwan top brands.
E V E N T S
BIFEX 2015: Business Beyond Borders THE LFA ORGANIZED BIFEX 2015, 13-14 MAY 2015, AT THE PHOENICIA HOTEL, AN EDITION THAT REGISTERED A ‘9’ ON THE RICHTER SCALE OF BUSINESS CONFERENCES. BIFEX 2015 SURPASSED ALL EXPECTATIONS, IN TERMS OF OFFICIAL PARTICIPATION AND BUSINESS COMMUNITY INVOLVEMENT. In fact, BIFEX 2015 witnessed a major shift as it attracted a new class of younger CEOs, representing innovative sectors and companies. BIFEX 2015 may be the event that foretold the transition between an old, rusty economy, and a new, innovative and dynamic economy, based on individual initiative. BIFEX 2015 participants were eager for fresh knowledge and new ideas. Each panel, with its distinctive theme and renowned speakers, was packed. The LFA believes that the “BIFEX Package”, a well-balanced blend
of serious content and visual attractiveness, embodies an array of Lebanese qualities: Diligence, resilience and hard work. The BIFEX 2015 Opening Ceremony was a magnet for Lebanon’s senior officials and business community, including Ministers, former Ministers, Parliamentarians, Arab dignitaries, Presidents of private sector organizations, LFA members, CEOs of retail, media
and advertising companies, and the press corps. In his opening remarks, the LFA President, Charles Arbid, described the events shaping and affecting the Lebanese economy. He called for a new ‘entente’ between the public and private sectors, to empower and revitalize the national economy, and showcase the ‘Lebanese way of life’ to the world.
E V E N T S
Ministers who spoke at the Opening Ceremony concurred that franchising is a business model that is well-suited to Lebanon, as it adds value, introduces modern management techniques and expands the range of Lebanese exports.
• Promoting Arab Brands, as well as foster the creation and consumption of Arab-made products”;
The BIFEX 2015 program was varied; it offered a series of panels and themes, some of which have never before been discussed in Lebanon, such as Diaspora Marketing: Gateway for Lebanese Brands; Interactive Multimedia in Retail; How Can Media Shape Lebanon’s Image
• Offering a platform for Arab innovators and entrepreneurs to meet and exchange ideas; and,
• Inspiring young Arabs to follow in the footsteps of Arab brand champions;
• Promoting Arab brands and encouraging the creation of more of them…and utilizing
BIFEX 2015 may be the event that foretold the transition between an old, rusty economy, and a new, innovative and dynamic economy and Promote Lebanese Economic Interests? Lifestyle Shopping: a New Trend in Shopping Malls; Sustainability in Retail: From Cost and Risk Minimization to Innovation and Growth; and, Positioning Lebanese and Arab Brands Overseas on Positive Cultural Associations. During BIFEX 2015, the LFA also launched, in cooperation with local and Arab partners, The Arab Brands Initiative, whose objectives include:
Arab Diaspora networks and our rich Arab cultural heritage as market-penetration strategies. BIFEX 2015 was a special occasion mainly because of the high-caliber of invited speakers. In addition to prominent Lebanese panelists, the LFA’s invitation was answered by globally-recognized specialists from the United States, Ireland, Great Britain, France, UAE, Qatar, and Saudi Arabia. See you at BIFEX 2016!
E V E N T S
The LFA's Gala Dinner
Celebrating Lebanon’s Golden Age WORDS CANNOT BEGIN TO DESCRIBE THE LFA'S GALA DINNER, AT SALLE DES AMBASSADEURS, CASINO DU LIBAN. IT WAS A NIGHT OF A THOUSAND AND ONE EMOTIONS, EXPRESSED AND DISPLAYED ON THE SILVER SCREEN THAT HELPED SHAPE THE VALUES THAT THE LEBANESE HOLD DEAR.
TV series and musicals, as well captivating as unforgettable, advertising. The whole town joined the LFA's unforgettable night: Ministers, high officials, Presidents of Lebanese and Arab private sector organizations, media
Titans of the Lebanon's golden age were recognized and acclaimed before an audience that grew up on their pioneering work in the arts and in the news. The LFA and its guests celebrated the work of legends like Souad Karout Ashi, Abdel Majid Majzoub and Elias Rahbani, refocusing our attention on the innovative spirit that the Lebanese demonstrated (long before innovation became a fashionable concept). Much of the credit for this unique cultural and artistic treasure is due to Tele Liban’s pioneering work. TL captured the “Lebanese spirit” and diffused it through enthralling
personalities.... and distinguished members of LFA.
the the
Try as you may, you will never forget that night!!!
E V E N T S
E V E N T S
Communicating the Franchising Model The LFA is keen to share information about franchising with the Lebanese media. Because franchising is relatively new in Lebanon, journalists need to be informed about what makes franchising an exceptional vehicle for economic modernity and growth. Additionally, ‘franchising’ is always a ‘hot topic’ that’s
Who would have believed, in 2006, when the LFA was established, that employment in franchising would reach 100,000 workers by 2014?
wor news coverage it innovates constantly and continues to reach milestones that few sectors can match. The LFA organizes regular get-togethers with Lebanese and international journalists, because it is exciting for us to communicate and describe the truly astonishing facts that franchising produces. Who
would have believ when the LFA was established, that employment in franchising would reach 100,000 workers by 2014? Who would have thought that franchising would gain a respectable foothold in national GDP, equal to historic economic sectors?
Bank with your Live Personal Teller at the NOVO ITM Experience a more convenient way to bank with us every day till 7:00 pm, even on Sundays and holidays. With the NOVO ITM (Interactive Teller Machine), the first of its kind in Lebanon, you can now: • • • • •
Transfer money Deposit and cash Bank Audi cheques* Deposit and withdraw cash* Make different types of payments (tuition fees, cash wedding gifts, donations) Deposit cheques* *No commission charged
To know more about NOVO ITM locations and operating hours, simply give us a call or visit our website.
www.bankaudi.com.lb
P R O J E C T S
The Retail Observatory: For a better understanding of the retail industry TRUE TO ITS MANDATE TO PROMOTE THE COMPETITIVENESS AND REGIONAL OUTLOOK OF THE RETAIL INDUSTRY IN LEBANON, THE LEBANESE FRANCHISE ASSOCIATION ESTABLISHED A RETAIL OBSERVATORY TASKED WITH THE RESPONSIBILITY OF PROVIDING ANALYTICAL, INFORMATIONAL, AND ADVISORY SUPPORT TO RETAIL ENTERPRISES AND TO THE RETAIL INDUSTRY AS A WHOLE. THE PRESSING NEED FOR DATA AND INFORMATION The Retail Observatory will seek to narrow – and ultimately eliminate – the gaping shortage of qualitative and quantitative studies relating to the retail industry. Indeed, this industry has for long remained a patently understudied activity, both statistically and analytically, despite the fact that consumption spending accounts for no less than 70 percent of Lebanon’s Gross Domestic Product. The absence of reliable data on the retail industry constitutes a major drawback to policy-makers, prospective investors, and industry stakeholders. OBJECTIVE AND RATIONALE The overarching objective of the Retail Observatory’s research endeavor is to produce critically needed metrics and analyses on all aspects of the retail business in Lebanon.
The Observatory will hence seek to provide quantitative and analytical basis for:
stakeholders with reliable retail industry metrics on the evolution of retail sales.
• business action at enterprise level, undertaken by retailers and mall operators
The indicators are built by drawing on three data sources namely, data provided by major shopping malls; data from payment systems operators; and qualitative micro data derived from retail enterprise surveys.
• action undertaken at sectoral level by retail industry support associations and retail developers, • policy guidance to decisionmakers and regulatory authorities, • guidance to potential investors in the sector, and • decision-making providers.
by
credit
RETAIL ACTIVITY INDICATORS The Retail Observatory launched earlier this year a research project intended to build retail activity indicators. These are directional indicators designed to provide
Analyzed conjunctively, retail metrics based on data from these three sources afford an accurate and timely depiction of the retail industry’s performance. Additionally, the retail enterprise survey includes a part intended to express retail business confidence, and will hence prepare for the publication of a Retail Business Confidence Index. The sectoral coverage of the statistical exercise is broad, as indicators apply to six categories of retail in consumer goods that
P R O J E C T S
include 36 sub-categories and four categories of consumer services that include 18 sub-categories. THE DATABASE The Retail Observatory has started building a database that will include the processed data that constitute the statistical basis for the activity indicators, in addition to other resources on regional and international retail facts and trends. Retail industry stakeholders and the business community at large will have access to the information and statistical resources of the Retail Observatory’s database. Beneficiaries from access to these resources are prospective investors in the industry; retail ventures; brand owners; consumer credit providers; and policy-makers and regulators. ADVISORY SERVICES The Retail Observatory’s advisory capacity covers a range of
competencies relating to retail concept development, the preparation of information files that involve extensive research and compilation effort, enterprisespecific consulting work on issues pertaining to finance, management, positioning, benchmarking, marketing, branding, strategy development, statistical services; and feasibility studies. TOWARD A COMPREHENSIVE AND ADVANCED RETAIL DATA PLATFORM The Retail Observatory is a venture undertaken for the long haul, with the ultimate objective of developing research capacity and evolving into a leading reference and knowledge center on retail activity in Lebanon. The sustained effort and sizeable resources needed to attain this objective are justified by the facts that:
a) the retail industry’s defining features, undercurrents and determinants are distinctly more dynamic than those of any other sector of economic activity, and hence warrant closer observation if trends were to be detected in a timely and methodical manner. b) The statistical basis that will support research capacity should be designed to rely on advanced methods and applications, and on sustained fieldwork. Only such approach will enable the compilation of comprehensive time series of descriptor and predictor variables that are indispensable for tracking, analyzing and forecasting trends in retail activity. (LFA has appointed QuantAnalysts s.a.r.l. as consulting party for the implementation of the Retail Observatory)
O P I N I O N
Of ratings and ratios
Censure by international institutions exposes Lebanon’s country risk outlook HARDLY A SPEECH ON THE LEBANESE ECONOMY OMITS ISSUING WARNINGS OF AN IMPENDING CALAMITY. DREARY AS THE REFRAIN MAY HAVE BECOME, IT ADMITTEDLY HAS MORE THAN A GRAIN OF TRUTH TO IT. AN INTERESTING TWIST ABOUT THE SAGA SAW RENOWNED INTERNATIONAL INSTITUTIONS JOINING THE LEBANESE IN HARPING ON THE THEME OF DISASTER, ONLY IN MUCH STRONGER WORDING AND ALONG MUCH BETTER ANALYTICAL LINES OF ARGUMENTATION.
The official international reports that leveled stern criticism at Lebanon’s defective system of governance may be expected to have more influence on investments and expectations than the country’s unfavorable risk ratings . SEVEN CARDINAL FAILURES OF GOVERNANCE On more counts than can be counted Lebanon’s economic governance has heightened country risk and led to debt instruments earning their mediocre marks. As a matter of
fact, nearly all key factors scored for the purpose of country-risk assessment conjure up instances of failure. The feat in this regard is that seven cardinal failures of governance are present in one polity. • Weak political institutions are the underlying cause for recurring failures of the legislative branch of government; it is expressed in the failure to elect, be elected, and legislate. • The appalling quality of economic management is reflected in the failure to enact a budget law for a decade, to reduce the budget deficit, and to deflect the steep growth path of the public debt. • The ineffectiveness of the executive branch of government is exemplified in the decadeslong failure to implement any reform, social, economic, institutional, or structural, and the failure to address grave disparities in incomes, rampant unemployment, and poverty. • The endemic sloppiness in the enforcement of the rule of law is seen in the failure to prevent or penalize the misappropriation of communal property, and the failure to bring to justice violators whose means and ‘status’ trump the law.
• At a more systemic level, the morphing of the confessional power-sharing formula into a scheme to subdivide State institutions into confessional fiefdoms, has exacerbated corruption and its nefarious impact on investments and competitiveness, and undermined what modicum of national cohesion may have existed in epochs past. • Policy inertia and complacency have allowed the degradation of the environment and explain the failure to preserve precious natural resources and ration them across generations. • Finally, a deficiency in statesmanship is the cause of the failure to attenuate the impact of a threatening geopolitical conjuncture on the country and the economy. DO THESE RISK-ASSESSMENT FACTORS WARRANT THE LACKLUSTER SCORE ON THE COUNTRY RISK SCALE? To be sure, these failures have been known and condoned for so long that they have become certainties and as such they should now be of limited significance to risk assessment, risk being contingent upon uncertainty. Country risk assessment, though partly influenced by current afflictions, is in fact more strongly determined by the
O P I N I O N
threat that negative dynamics could worsen initial ailments. Festering maladies are indeed prone to degenerate into dire sufferings. Barring the chimera of a system reset, a countryrating model worth its salt will therefore factor in a blend of likely worst-case projections. In an endgame, skyfall scenario, crumbling political institutions could tip a country into a failed State status; bad economic management could trigger a public debt crisis, or worse, outright default; obliviousness to the need for reforms could trigger social unrest; protracted contempt for the rule of law could foster a breakdown of law and order; a confessional system gone awry could splinter a country; fast degradation of the environment could develop into an ecological crisis; corruption pushed to the extreme paves the way for a kleptocracy; and, in an explosive geopolitical backdrop, petty politicking could lead to loss of territorial integrity. Are these deficiencies in governance sustainable? Arguably and unfortunately some of them are, at least for as long as Lebanon’s gross national disposable income remains larger than gross domestic product by an inordinately broad margin. (And for at least that long, pop ‘economists’ will keep struggling valiantly to figure out a composition of GDP that adds up.) A TWINKLING BRIGHT SPOT Indisputably, the country has retained its capacity to keep
capital flowing in, and most importantly, astute liquidity management has preserved monetary stability and forestalled excessive public borrowing that could typically have been fueled by senseless reliance on the security of inflows.
Still, there is an intricate story behind the numbers that show net public debt actually falling relative to even a portion of total deposits, a story that stokes hope amid shambles. And the capital inflows metric is central to that story.
A few metrics expressively depict the twinkle in the gloom. Over the past decade and a half, resident private deposits grew at an average compound rate of nearly nine percent whereas the average growth rate of the net public debt was six percent. Growing at such a faster rate, these deposits are currently twice as large as the net public debt. This is quite an improvement compared with a ratio of net public debt to private deposits of 85 percent earlier in the past decade.
In its briefest, the narrative runs as follows:
The numbers would show an even more pronounced improvement when the resident private deposits in foreign currencies are compared with the foreign exchange portion of the net public. The ratio of the latter metric to the former is currently stands a touch under 40 percent, whereas it had peaked at 65 percent twelve years ago. These numbers should certainly not be interpreted to mean that there still is a margin for additional public borrowing, nor do they disprove fiscal laxity. Quite the contrary. Fiscal laxity, fiscal-policy paralysis, and a massive, unrepayable public debt are symptoms of a sinister ailment, that of a failing political system.
Where inflows normally raise national disposable income to a level much higher than gross domestic product, a country runs two sets of risks: one relates to demand-pull inflationary pressures, and the other to pressures from the public sector to indulge in inflows-fuelled borrowing and spending. In Lebanon’s monetary context, both pressures were successfully contained, as evidenced by the facts that rates of inflation have been mostly confined to the low single digit scale, and the growth of deposits is outpacing – at an accelerating rate – the growth velocity of the public debt. Success in this ‘dual containment’ may not fully compensate for debilitating failures in other nooks and corners of the system, but it does mitigate the harm wrought by some of the lesser failures. And if nothing else, that success at least pushes back the day of reckoning. Albert Nasr QuantAnalysts s.a.r.l. http://www.quantanalysts.com
T R E N D S
Capsula is your own automatic kettle machine for Lebanese coffee made with technological brilliance. Its unique, exclusive program is designed to deliver the perfect cup of Lebanese coffee in an effortless way. Simply press the button and get ready to savor the exceptional taste of roast, ground 100% Arabica coffee beans freshly brewed for you, in a choice of three flavors: classic, with sugar, or with cardamom. For free delivery call 01- 884 830
&
E X P A N S I O N
COLORTEK® has signed a cobranding agreement with DOW®, a Fortune 500 company and the leading global supplier of advanced technologies and solutions for the coating industry, thus cementing the long-standing collaboration between both companies as well as their shared commitment to create better, healthier and safer products for a more sustainable world. Subsequently, COLORTEK® is the first company in Lebanon and the surrounding region to receive the Greenguard Gold certification issued by UL, the world’s largest certification body for building material and other consumer goods. As such, its product lines are determined compliant in accordance with California Department of Public Health (CDPH) Standard Method, the world’s strictest certification criteria for testing chemical emissions and for building products used in schools, healthcare facilities and other environments. Furthermore, in addition to verifying low chemical emission compliance, GREENGUARD GOLD certifies its products’ contribution to International Sustainable Building Programs Credits & Codes such as ASHRAE, CHPS and LEED amongst many others. DOW’s endorsement strengthens
COLORTEK’s position as a leader in the decorative and architectural paints market, following international safety standards in Lebanon and the region. However, In Lebanon, sustainability continues to be a critical subject that needs to be addressed by the sector. The dangers of chemicals in paints have been well documented by international bodies such as the World Health Organization (WHO), and whereas use of these chemicals for domestic paints has been banned in America and Europe since 1978 and from several Middle-Eastern countries such as Jordan and the GCC while Lebanon’s market is still inundated with wrongly labeled products when most people exposed to toxic paint, in their homes and workplaces, are poorly informed or even aware of the dangers that Lead and Formaldehyde VOC emissions constitute to their health. Therefore, COLORTEK® has launched a new awareness campaign called #RightToKnow to encourage the removal of harmful and toxic components found in domestic paints as well as establishing clear labeling norms to communicate to customers when a product with potentially harmful components should not be used in areas used by children.
T R E N D S
&
E X P A N S I O N
Frizzy City, a new interactive corner has been launched in FRIZZY in March 2015. FRIZZY CITY, is an indoor themed city-like child’s scale, very realistic and educational that has been launched in February 2015. Frizzy City is a complete city, where you can find:
FRIZZY HAS STARTED OUT A NEW CLUB FOR MOMS IN FEBRUARY 2015
• A hospital • A supermarket • A pizzeria • A theater
Mommy’s Club is an interactive gathering spot, where moms have a common interest in raising their children in a healthy way while having time for themselves.
• A school
This club provides a forum with different interesting topics for mothers, presented by experts in the area: From kids’ friendly recipes to homemade tips and activities for toddlers, to Home safety, work family balance ...
Kids can safely explore and perform different jobs and roles, using Frizzy currency, teaching them the value of money while having fun!
The mothers are able to bring their children with them, where they will play and have fun while their moms are attending the interactive session. Mommy's Club is creating a social network for moms to connect with education professionals and interact with each other. We have recently launched: • LACTICA “Nourishing Healthy babies and tots” by Hiba Itani, Health Coach • KIDPROOF “ Behavior Make Over” by Darine El Masri • “Positive at Home, at Work, in Life!” by Anita Papas- Clinical Psychologist and Author.
• A flower kiosk • A picnic area • Much more…
GlobeMed Limited, a renowned brand name in the management of healthcare benefits, has adopted the franchise concept 24 years ago to cater to its expansion plan in the region. Today, GlobeMed Group has achieved great strides with presence, through franchisees, in 13 countries in UAE, Qatar, Bahrain, Kuwait, Saudi Arabia, Jordan, Syria, Lebanon, Palestine, Egypt, Ivory Coast and Nigeria. With our expansion came achievements and accolades; GlobeMed is the proud holder of the 2014“Medical Administrator” Award given to best TPA in the region, awarded during the World Health Tourism Congress on 15 October 2014 in Dubai. Furthermore, another achievement was added lately to GlobeMed growing list of achievements under the vision and leadership of GlobeMed Group Chairman and CEO Mr. Mounir Kharma, who was named in Mena Insurance Review’s 2015 Power 50 List as one of the most 50 influential personalities in Mena Insurance Industry. With a pioneer mind leading GlobeMed, our franchising model will continue to grow to reflect the limitless possibilities ahead. Expansion opportunities are constantly assessed at GlobeMed with plans already set to expand to North Africa, Southeast Asia as well as North and central Africa.
T R E N D S
&
E X P A N S I O N
IPT is proud to announce the launching of its new website www. iptgroup.com.lb which embodies the company's commitment to helping our partners, investors and customers realize their performance targets, by providing cutting-edge online services such as: • Access to the history of Local and International Fuel Prices • Online Access to Fuel Cards Holders’ Accounts • Online Diesel Order Visit our New Website and share with us your thoughts.
“My Doll & Me “the concept empowering a new generation of girls through dolls, celebrated the launching of its New Limited edition Doll, HOPE. 20% of the doll’s proceeds will go to Children’s Cancer Center of Lebanon (CCCL). HOPE comes with a bookmark filled with empowering messages and tips for a healthy lifestyle. My Doll & Me’s message through HOPE is “Every girl is beautiful inside out and cancer doesn’t define her or her beauty”. Leila 1943 and Zeina 1971, the historical dolls, are still top on the list of sales and featuring in the Lebanese National Museum .Through these dolls, My Doll & Me, is looking to revive major historical eras, and educate girls about their country’s history.
Les Amis boutique has been tailoring for the modern woman’s appearance and drawing on her charming day and night looks for 20 years. Participating for the second time in Beirut Fashion Week to present a special variety of cocktail dresses, evening dresses and ready-to-wear designs that fit summer’s shiny days and magical nights with charming cuts that add to the professional elegance and magic glow in a woman’s exceptional looks. This year Les Amis Boutique, proud member of the LFA is opening its first branch in Gulf Mall, Doha, Qatar as a franchise. A first step in expanding to the Gulf Region and fulfilling the company's vision.
T R E N D S
&
E X P A N S I O N
GROWTH THROUGH COMMITMENT
Roadster diner’s success story started in 1998, with a solid commitment to provide the Lebanese community with an unforgettable dining experience, marked by our focus on consistency and excellence in service and food quality. These building blocks earned our customer’s loyalty which contributed greatly in building the brand’s equity. This successful business model helped us grow to 20 outlets in just 17 years, thus earmarking our local and international expansion objectives. In the last 8 months, we opened 4 outlets and 3 new outlets are in the pipeline, scheduled to open within the coming 18 months.
FIRST TO FILE COUNTRIES
Almost all countries of the Gulf are civil law countries with the code typically exhaustively covering the complete system of the law. This being said, the first-to-file concept is given considerable weight. Despite the fact that some GCC countries may offer a limited amount of common law rights, enforcement is relative and solely determined by the practitioner handling the case. Therefore, registration of marks in the GCC countries is highly recommended and the mere registration can be a basis to sue an infringer, although the risks of a non-use cancellation action must be factored-in in any filing strategy. However, unlike the United States, cancellation for non-use in most countries of the GCC region requires Court actions rather than administrative procedures, which can greatly increase the time, costs and even predictability of such proceedings. Another issue is related to the burden of proof where, in most GCC countries, the burden of proof of non-use will usually be on the plaintiff. This of course renders non-use cancellation actions expensive since a negative must be proven, namely, that a mark is not in use. protection of In short, trademarks in the economically
growing Gulf region is an important yet challenging process that requires special consideration and handling. Even more, there is no panArab registration, similar to the Community trademark, which relatively complicates the registration procedures. Although a GCC trademark law was introduced back in 1987 (not in force yet), this law is not expected to offer a unified filing system as the case is with the GCC Patent Law. Trademark applications will continue to be filed separately in each GCC member state for protection. Therefore, owners must be able and ready to adopt a model that incorporates both legal as well as regulatory approaches in order to arrive at a solid trademark protection strategy. Fortunately, the current trademark laws for the GCC countries are harmonized to a large extent. In almost all the articles that define the absolute grounds of registration, the directives are equivalent in content and have to be interpreted in the same way, while the minor differences are in the scope only. In Saudi Arabia, for example, the scope is limited to what basically does not violate the Shari’a (Islamic) law. The difficulty would arise at the time of substantive examination, where practice differs between the countries. Needless to say, trademark owners should seek sound advice before they decide on the best route to pursue.
T R E N D S
&
THE REVIVAL OF AN ERA In line with Switch Group’s Corporate Social Responsibility Strategy, and in coordination and agreement with Beirut Municipality, works have initiated on the revival of “Le Petit Sérail”, Archeological Plot No 441, in Martyr’s Square, Beyrouth, Lebanon, opposite UFA Assurances Headquarters.
E X P A N S I O N
TEN-TEN, the leading children footwear in Lebanon has announced the launch of its new point of sale in Le Mall Sin El Fill and Le Mall Dbaye. It is the company’s first comprehensive Innovation since it unveiled a new brand direction for its franchise network in Lebanon and a new corporate identity since last year. TEN-TEN seeks to extend its network to reach its clientele where they live. This means establishing TEN-TEN franchises everywhere.
The project will be executed at the Company’s own expense and in collaboration with Landscape Architect and Lighting Designer, Rouzana K. Kopti, MDes. BS. De-weeding works have already commenced.
With this objective in mind, TENTEN continues to provide the market with the widest range of shoes that would cater to the many different shapes and sizes of children’s feet. No other retailer offers pleasant shopping environment where both children and parents could feel at ease. TEN-TEN aims to become the first choice brand for all the parents who want to buy healthy shoes for their kids.
Tomatomatic Pizza is working on the ‘manchising’ concept, a trendy franchising model in the food and beverage industry. Today, whether you are an employee who doesn’t want to leave work and has money to invest, or a retired person who wants to make a small investment, Tomatomatic Pizza will be giving the opportunity to own Tomatomatic Pizza Manchising, without going into the hassle of management. Investors will choose their location (subject to company approved) in each designated area, and they will develop the shop from fitout to equipment sourcing and shop decoration, until it is fully operational. The company will support the investor throughout the development period with its know-how and expertise. Once the shop is ready to operate, the franchisor (company) will exclusively manage the operation in all its segments.
For any inquiry, please send us an email: franchise@tomatomatic. com
T R E N D S
&
E X P A N S I O N
MUSE CHOCOLATE SHOP
each glass container.
The client for this project wanted to create a concept for customized luxury chocolate, where clients can come in, browse through the different chocolate mixes, flavors and ingredients and create their own mix; in addition to the vast ready made signature range.
The big wood boxes are made to have interchangeable visuals according to seasons or occasions, adding more flexibility and variety to the visual display inside the shop.
The design concept was to create a factory-like feel for the space with a chocolaty flavor. This is achieved by using grids that resemble chocolate bars, made out of black steel structure and natural wood boxes as the main idea for the display.
All other accessories in the shop are designed around the chocolate experience. The main door handle for instance is a metal chocolate bar, the I-Pad holders are designed in the shape of a mouth ready to bite on the delicious chocolates. We even tacked the olfactory system of the human body by creating a unique chocolate scent that will always remind you of the special chocolate created the shop.
Natural materials are used to give the raw industrial look, and the display is kept raw and simple to make it easy for customers to navigate the shop and give an organic feel to the experience. The display wood boxes have different types and sizes and different functions; some have glass containers with separations to accommodate the different types of chocolate. These boxes then slide outwards to become like shelves displaying the range inside
The counters are designed to resemble layers of chocolate strips stacked on top of each other.
All these different elements and pieces come together to offer the customers a unique and raw experience while simply browsing the shop, or creating their unique mix. Credits: Design by Vick Vanlian Architecture & Designs. Photos taken by Albert Saikali. Location: DownTown, Beirut, Lebanon.
T R E N D S
VIP PARKING
CONTROL: READINESS, MOBILIZATION AND EXPANSION. Corporate Governance and operational readiness enabled VIP to mobilize and establish presence in record time both in Erbil two years ago and Kuwait 6 months ago. This is greatly due to our continued investment in our human capital and benchmarking our practices to the best internationally recognized practices in the industry. Similarly, we have recently completed setting up the operation in KSA and will launch effective operation within a months’ time. VIP parking control is proud to have become a full-fledged parking management company. Traffic and circulation, design, execution and operations management constituted our comprehensive one-stop shop services.
&
E X P A N S I O N
WOODEN BAKERY SIGNS AN AREA DEVELOPMENT AGREEMENT WITH KAF IN THE UAE.
Beirut, Lebanon 3 March 2015 – The Wooden Bakery chain is proud to be recognized as the fastest growing Lebanese franchise with over 40 retail outlets in Lebanon and the Kingdom of Saudi Arabia, the brand is growing into new markets in the Middle East. On February 23rd 2015, Wooden Bakery International signed an Area Development Agreement with the KAF Group (Khaled Ahmad Foudeh), one of the biggest companies in the GCC in the field of catering and food service to open a factory and 10 retail outlets in 6 years
in the UAE with the first outlet opening in Q1 of 2016. “WE ARE VERY EXCITED ABOUT THE OPPORTUNITY AND LOOK FORWARD TO OPENING OUR FIRST OUTLET” said Mr. Foudeh Wooden Bakery is embarking on a global strategic expansion plan with priority countries and has developed its franchise system and infrastructure with the help and guidance of Franchise Development Services (FDS) Lebanon and UK.
T R E N D S
&
E X P A N S I O N
Trends International Franchising Company "New Expansion" MRS.MADIHA RASLAN HAS RECENTLY INAUGURATED TRENDS INTERNATIONAL FRANCHISING COMPANY AT SANAYEH, BEIRUT THROUGH A SPECIAL OPENING CEREMONY.
opportunity to discover the unique designs & various trendy collections.
The event was attended by HE.The Minister of Economy, Mr.Alain Hakim,represented by Mr. Zaher Azoury, The President of the Lebanese Franchise Association Mr.Charles Arbid, The President of Tripoli Chamber of Commerce Mr.Tawfiq Dabussy, The VicePresident of Beirut Chamber of commerce Mr.Mohammed Lamaa, Mr. Elie Rizk The President of the Lebanese Exhibitions and conferences Association, and a number of economic , media & public figures along with fashion lovers.
1- Darling’s touch showroom, which is a Lebanese registered brand and member of the LFA, offering a wide range of fashion accessories made of the most luxurious stones that will satisfy all tastes. All Darling’s touch products are gold and platinum plated, adding to it the fancy range of Crystallized belts & other unique designed bags. This brand is available in big stores such as Harvey Nichols Riyadh, East 51 Qatar, & other prestigious stores in Dubai and other areas, also available on board of the MEA flights.
The guests visited the twofloors store where they had the
TRENDS INTERNATIONAL FRANCHISING COMPANY showroom is split in three parts:
2-Trends
Showroom
also
includes raw materials needed for Haute Couture designers from (stones, pearl, crystals, metal pieces for decoration, chains...), accessories and flowers for chocolate decoration and special
occasions such as weddings, birthdays, and others... 3- TRENDS FOR CORPORATE GIFTS is dedicated to supply the needs of corporate entities that are looking for unique gift ideas and giveaways for their clients or during their special conferences. It is also the best choice for people’s personal occasions. It is worth noting that Darling’s Touch objective is to grow up worldwide starting from the Arab Countries and beyond, & thus through investment opportunities that are available within the Franchise format.
N E W
M E M B E R S
ARAB PRINTING PRESS
Established in 1968, Arab Printing Press (APP) with an SAL legal status has over 47 years of experience in the offset printing industry. Located in the heart of the Industrial City - Sid El Bauchrieh, APP regroups two (2) different activities: 1. Book printing: by producing books, text–books … 2. Commercial printing: magazines, catalogs, brochures, labels, corporate identities, annual reports, stationeries … With a hundred ten (110) employees divided in the different departments of the institution.
BODO
Following the success of Bodo Hamra in 2011, Mindset Holding endeavored into creating Bodo in Mar Mikhael in August 2013 and opened its doors in Uruguay street at the start of 2014. We then introduced our Jounieh branch towards March of 2014. We then Launched Bodo café bar in Badaro to fit the quiet and quaint Badaro culture. Now we will be branching the same concept in Dbayeh by summer 2015.
CHEZ ZAKHIA
It all started in 1984 when Mr. Zakhia Moujahed opened his first restaurant “al Jazira” which was located on an island in Byblos 300 meters away from the coast. A good reputation was built after the success of this restaurant. “Al Jazira” was assigned as public property with special status and the restaurant had to be moved. This is when Chez Zakhia was founded, preserving its authentic taste and loyal to its origins. Each time you sit on our summer deck, surrounded by the sea, you get to experience the sensational feeling of enjoying a meal, in the middle of the Mediterranean Sea.
MAC DESIGN
Mac Design started in 2003 when Marcelle Asmar, the designer and founder, created a bracelet with small figures of her kids, engraved with their names. She first started receiving orders from her friends and then, in less than a year, it expanded literally to the whole world. In 2004 we opened our first shop in Gemmayzeh, five years later we opened in ABC Dbayeh and a few months later in ABC Achrafieh. In 2011 we opened our first shop in Bahrain. With time the collection grew and apart from being specialized in custom made jewelry in gold and silver, we also carry ready to wear seasonal collections with theme. It is usually 4 collections per year, including two small. Our collection of personalized jewelry includes bracelets, necklaces, pendants, cufflinks, earrings, key chains, bookmarks and many other things! We keep renewing our collections by following the fashion and the current trends but with respect of our own identity. Quality is our main goal but we keep on searching to have a better quality and a better customer service.
N E W
M E M B E R S
VICK VANLIAN
THOHME LAW FIRM
In Architecture, Interiors, Furniture and Accessories, V World challenges to go beyond guidelines and dare to start new trends always adding some fun and twists to design, awakening the senses, resulting in a concept of bold and original furniture pieces, including aesthetic decorative home accessories. This ultimately distinguishing Vick Vanlian Designs from any other designs. But while making design & uniqueness a priority, utility and comfort are never compromised.
Our law firm was founded by Youssef Georges Tohme in 1979 and relies on its experience, integrity, attention to details and continuously strives to offer a personalized legal service. We are traditionally wellknown in both commercial and real estate fields, but have expanded our services to include other services as well: Corporate and commercial: we act on behalf of leading local and international companies in F.M.C.G., clothing, pharmaceuticals, printing and publishing, industrial, hospitality and property sectors. Real estate, construction and project development: our firm has strong real estate and construction credentials. We provide highquality, practical, innovative and commercial solutions for creating and dealing with real estate assets. Our clients include institutional investors, developers, contractors and project managers. Tax and wealth management: we deal with domestic and international tax planning for companies and high-net-worth individuals and families. Banking and finance: we advise on general corporate banking, lending transactions as well as takeovers and leveraged finance. Criminal: we offer specialist advice and litigation services – criminal investigation and prosecution – across the whole spectrum of corporate and business crime.
INFOFORT InfoFort is the leading Records and Information Management Solution provider across the Middle East and Africa. InfoFort offers Physical Records Management, Electronic Records Management, Secure and Certified Document Shredding, Offsite Data Protection and Media or Tape Vaulting.
N E W
M E M B E R S
TEN-TEN
Established in 1966, it all began with Hagop Hakimian as a factory specialized in designing, manufacturing and marketing shoes for infant, toddler and youth under the brand name of TEN-TEN. In 2006, Hagop’s two sons Hrair and Meher launched their first franchise operation. Today they reached 31 franchises and own/ manage 4 retail stores. Hagop Hakimian Leather Footwear (HLF) continues to strengthen the TEN-TEN identity in the market place with their core values at the heart of everything they do.
MALAK AL TAWOUK Malak Al Tawouk started in 1996 in Jounieh by two hard working brothers who invested their efforts to the success of their restaurant. Today there are 25 outlets located in major Lebanese cities and Arab countries as self-owned or franchised branches. At the heart of our menu, a Lebanese traditional specialty; Tawouk which consists of a secret recipe of marinated chicken breast served in Lebanese bread with the same taste from 19 years. We diversified our menu to satisfy the mass and focused on having low average ticket. We gain our reputation from the quality of products used, service, cleanliness and value for money.
LA PARRILLA La Parrilla grill house and bar has been delighting Lebanese gastronomy aficionados with the finest grilled cuisine since 2007. Mrs. Hayek always shared her love for food and cooking with her family and friends and organized regular tasting sessions and social gatherings. The success of her events coupled with her dedication, passion, love and admiration for food pushed her to open La Parrilla and share her know-how beyond her close social circle. In the purpose of continuously offering their guests exceptional dining experiences, La Parrilla recently underwent a series of renovation to uplift both the interior decoration and the menu while preserving the authenticity and sophistication of its identity.
N E W
M E M B E R S
BEIRUT CIRCLE
FRANCHISE ENGINEERS
ROADSTER DINER
Beirut Circle SAL is a joint stock company incorporated in Lebanon in Jan 2012. Beirut Circle started as a decision to support the Lebanese people to better enjoy Lebanon making its entertainment places more affordable for everyone. Six months later, Beirut Circle is a tangible fact servicing Lebanese people and tourists providing the market with a VIP pass to Lebanon.
Our team had been offering franchise related services to clients in Lebanon and abroad since 2009. And in addition to advising the well-established corporate sector and young entrepreneurs, our major achievement was to advise the Lebanese Franchise Association (LFA) through leading the EU funded project: ”Capacity building at the LFA”. This project that was achieved in 2014 comprised training franchisors and franchisees members of LFA, conducting the first national franchise survey, and advising the LFA on ways to improve its performance and reach its newly set of goals.
“Roadster diner” is an authentic American casual diner concept first opened its doors to the public in 1998 aiming to deliver an unforgettable dining experience to the Lebanese market where customers from all ages –with focus on youth – can enjoy themselves in a warm, relaxing, safe and “Homey” atmosphere with amazing food. Roadster diner now has 15 Dine-IN outlets, 5 delivery centers and more new outlets in the pipeline, holding the biggest market share in the Casual Dining industry in Lebanon with 1200 employees and serving more than 3.2 million customers per year.
DEEK DUKE
Deek Duke opened its first branch in Ashrafieh in 2003 which was a great success. In 2009, Deek Duke opened its second location in Crowne Plaza Hotel Hamra, followed by LeMall (Dbayeh) in 2013, leading to the newest branch addition in Citymall (Dora) in 2014. Today, Deek Duke has 4 full-fledged restaurants and delivery centers in central locations around the country, serving customers irresistible food. We will be opening our first standalone branch in Jbeil in early 2016, with more branches in the pipeline to follow.
T H E
L F A
G E N E R A L
A S S E M B L Y
The LFA held its Annual General Assembly (AGA) on 23 April 2015, at the Four Seasons Hotel, Beirut. President Charles Arbid welcomed participating LFA members. The General Assembly then took note of the Annual Management Report (AMR) and Annual Financial Report (AFR). The AMR described the Association’s activities during the previous year, as well as its plans and objectives for 2016. The AFR, on the other hand, provided a formal record of the LFA’s financial situation. Relevant information was presented in a structured and clear report. After the reporting and a short discussion on franchising-related issues, and as the present board’s 3-year mandated (2012-2015) had come to an end, the General Assembly turned into an Electoral Body, and proceeded to elect a new board, for the period of 2015-2018. The new LFA Board of Directors is as follows: Mr. Charles Arbid
President
Mrs. Aline Kamakian
Member
Mrs. Madiha Raslan
Vice - President
Mr. Anthony Maalouf
Member
Mr. Yayha Kassaa
Secretary General
Mr. Issam Rahhal
Member
Mr. Charles Thoumy
Treasurer
Mr. Rabih Koussa
Member
Mrs. Christine Assouad Sfeir Member
Mr. Karim Miknas
Member
Mr. Michel Ferneini
Mr. Marc Kallassi
Member
Member
Partnerships create new opportunities. We create partnerships. At Bank Audi, we believe that collaboration brings about the greatest success. That is why we have partnered with all forms of businesses, from new ventures to established corporations, to provide even more chances of making business ambitions a reality.
Grow Beyond Your Potential
LEBANON SWITZERLAND FRANCE JORDAN SYRIA EGYPT SUDAN KINGDOM OF SAUDI ARABIA QATAR MONACO TURKEY ABU DHABI REP. OFFICE
www.bankaudigroup.com