Unraveling Lebanon's Banking History | Professor Hicham Safieddine

Join us as we delve into the intricate world of Lebanon's banking system with Professor Hicham Safieddine, an Associate Professor and Canada Research Chair in the History of the Modern Middle East at the University of British Columbia. In this enlightening conversation, Professor Safieddine guides us through the evolution of Lebanon's banking sector, from its early days in the 1800s to its current state, exploring the pivotal roles played by central banks, the influence of banking barons, and the impact of landmark events like the Intra-affair on Lebanon's financial landscape.
0:00 Introduction to Lebanon's Banking History
0:43 Safieddine's Interest in Banking and State Formation
3:13 Role of the Central Bank in National Economies
8:09 Beirut's Economy and Banking in the 1880s
15:08 Key Banks in Early 20th Century Lebanon
17:47 Banking in Mid-20th Century Lebanon and Palestine
20:48 Influential Banks Shaping Lebanon's Sector
24:36 Rise of Banking Barons and Banking Secrecy
28:57 Lebanon as the "Switzerland of the Middle East"
33:12 Political Influence of Major Banking Blocs
37:47 Founding of Banque du Liban
39:36 Public Trust in Banque du Liban
43:29 In-depth Analysis of the Intra Banking Scandal
57:39 Current Challenges Facing Banque du Liban
58:41 Changes After the Intra Affair
1:00:00 Post-WWII Exchange Rate Management
1:08:00 Future Reforms in Lebanon's Banking Sector
Professor Hicham Safieddine is a distinguished scholar specializing in the financial, economic, and intellectual history of the MENA region, with a particular focus on the 19th and 20th centuries. His work critically examines the development of monetary regimes, financial systems, and their interplay with broader historical forces such as colonialism, national liberation, and global capitalism. Safieddine's seminal work, "Banking on the State: The Financial Foundations of Lebanon," offers an in-depth analysis of the historical and political underpinnings of Lebanon's banking system.
Theme music: Peninsular, Tarek Yamani 🔊 spoti.fi/47I59ns
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