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Al-Madina Bank
Al-Madina Bank (Arabic: بنك المدينة) was a Lebanese bank that was seized by the Banque du Liban Banque du Liban (BdL, ar, مصرف لبنان, English: Bank of Lebanon) is the central bank of Lebanon. It was established on August 1, 1963, and became fully operational on April 1, 1964. It is currently headed by Riad Salameh. One of the ma ... and closed completely in 2003 because of its mysterious case of suspicion in money laundering, corruption and fraud. The main figure in the scandal was Rana Koleilat, but also Adnan Abu Ayyash, the bank owner, and his brother Ibrahim. As many as 135 people may have been involved in the corruption case, included political, military, financial and legal figures. The total amount of money lost from the bank was 1.65 billion US dollars. History Bank Al-Madina began operating in 1982, with its headquarters in Hamra. Adnan Abu Ayyash bought the bank in 1986, and was its main shareholder, along with his brother Ibrahim. The b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arabic
Arabic (, ' ; , ' or ) is a Semitic languages, Semitic language spoken primarily across the Arab world.Semitic languages: an international handbook / edited by Stefan Weninger; in collaboration with Geoffrey Khan, Michael P. Streck, Janet C. E.Watson; Walter de Gruyter GmbH & Co. KG, Berlin/Boston, 2011. Having emerged in the 1st century, it is named after the Arabs, Arab people; the term "Arab" was initially used to describe those living in the Arabian Peninsula, as perceived by geographers from ancient Greece. Since the 7th century, Arabic has been characterized by diglossia, with an opposition between a standard Prestige (sociolinguistics), prestige language—i.e., Literary Arabic: Modern Standard Arabic (MSA) or Classical Arabic—and diverse vernacular varieties, which serve as First language, mother tongues. Colloquial dialects vary significantly from MSA, impeding mutual intelligibility. MSA is only acquired through formal education and is not spoken natively. It is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lebanon
Lebanon ( , ar, لُبْنَان, translit=lubnān, ), officially the Republic of Lebanon () or the Lebanese Republic, is a country in Western Asia. It is located between Syria to the north and east and Israel to the south, while Cyprus lies to its west across the Mediterranean Sea; its location at the crossroads of the Mediterranean Basin and the Arabian hinterland has contributed to its rich history and shaped a cultural identity of religious diversity. It is part of the Levant region of the Middle East. Lebanon is home to roughly six million people and covers an area of , making it the second smallest country in continental Asia. The official language of the state is Arabic, while French is also formally recognized; the Lebanese dialect of Arabic is used alongside Modern Standard Arabic throughout the country. The earliest evidence of civilization in Lebanon dates back over 7000 years, predating recorded history. Modern-day Lebanon was home to the Phoenicians, a m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banque Du Liban
Banque du Liban (BdL, ar, مصرف لبنان, English: Bank of Lebanon) is the central bank of Lebanon. It was established on August 1, 1963, and became fully operational on April 1, 1964. It is currently headed by Riad Salameh. One of the main responsibilities of the bank is issuing Lebanon's currency, the Lebanese Pound. Other responsibilities include maintaining monetary stability, regulation of money transfers, and maintaining the soundness of the banking sector. Banking is a very important part of Lebanon's economy with over 100 different banks, which makes the role of BdL particularly important. It currently owns 99.37% of the shares of Lebanon's national carrier, Middle East Airlines. The BdL is also the dominant shareholder of the Intra Investment Company (IIC) which in turn owns 53% of Casino du Liban, making it the only central bank worldwide to rule over a Las Vegas-style gambling casino. Besides the main branch in Beirut, it has branches in Aley, Baalbeck, Bikfaya ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rana Abdel-Rahim Koleilat
Rana Abdel-Rahim Koleilat (Arabic: رنا عبد الرحيم قليلات, born January 23, 1967) is a Lebanese Sunni female banker who was accused of being at the head of the biggest banking scandal in the history of Lebanon. She fled Lebanon to Brazil in 2005, while she was being investigated for the mysterious collapse of Al-Madina Bank, which she allegedly stole $3 billion, but her whereabouts today are unknown. Biography She born in January 23, 1967 in the Ras-El-Nabeh neighborhood in the heart of Beirut. She joined Al-Madina Bank as a clerk in 1985, before becoming an executive''Rana Koleilat: Frankenstein for Lebanese Women'' Lebanese Political Journal, 20 mars 2006 of Ibrahim Abou Ayyash, the brother of Chairman Adnan Abou Ayyash. A few ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hamra Street
Hamra Street or Rue Hamra ( ar, شارع الحمراء) is one of the main streets of the city of Beirut, Lebanon, and one of the main economic and diplomatic hubs of Beirut. It is located in the neighborhood of the same name, Hamra. Its technical name is Rue 31. Due to the numerous sidewalk cafes and theatres, Hamra Street was the centre of intellectual activity in Beirut during the 1960s and 1970s. Before 1975, Hamra Street and the surrounding district was known as Beirut's trendiest, though in the post-war period it has arguably been eclipsed by Rue Monot in Ashrafieh, Rue Gouraud in Gemmayzeh, Rue Verdun, and downtown area. In the mid 1990s, the Municipality of Beirut gave a face lift to the street to reattract tourists all year round. Hamra Street was known as Beirut's Champs Elysées, as it was frequented by tourists all year round. Today it is a commercial district with numerous prestigious universities (such as: American University of Beirut, Lebanese American Univ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rafic Hariri
Rafic Bahaa El Deen Al Hariri ( ar, رفيق بهاء الدين الحريري; 1 November 1944 – 14 February 2005) was a Lebanese business tycoon and politician who served as the Prime Minister of Lebanon from 1992 to 1998 and again from 2000 until his resignation on . Hariri headed five cabinets during his tenure. He was widely credited for his role in constructing the Taif Agreement that ended the 15-year Lebanese Civil War. He also played a huge role in reconstructing the Lebanese capital, Beirut. He was the first post-civil war prime minister and the most influential and wealthiest Lebanese politician until his assassination. Hariri was assassinated on 14 February 2005 by a suicide truck bomb in Beirut. Four Hezbollah members were indicted for the assassination and are being tried ''in absentia'' by the Special Tribunal for Lebanon, but others have linked the assassination to the Syrian government. The outcome of a 15-year investigation led to the guilty verdict of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of Lebanon
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scandals In Lebanon
A scandal can be broadly defined as the strong social reactions of outrage, anger, or surprise, when accusations or rumours circulate or appear for some reason, regarding a person or persons who are perceived to have transgressed in some way. These reactions are usually noisy and may be conflicting, and they often have negative effects on the status and credibility of the person(s) or organisation involved. Society is scandalised when it becomes aware of breaches of moral norms or legal requirements, often when these have remained undiscovered or been concealed for some time. Such breaches have typically erupted from greed, lust or the abuse of power. Scandals may be regarded as political, sexual, moral, literary or artistic but often spread from one realm into another. The basis of a scandal may be factual or false, or a combination of both. In contemporary times, exposure of a scandalous situation is often made by mass media. Contemporary media has the capacity to sprea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
