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Riad Salamé
Riad Toufic Salameh (Arabic: رياض توفيق سلامة, born July 17, 1950) is the current Governor of Lebanon's central bank, Banque du Liban since April 1993. He was appointed Governor by decree, approved by the Council of Ministers for a renewable term of six years. He was reappointed for four consecutive terms; in 1999, 2005, 2011 and 2017. He is the longest-serving central bank governor in the world. Although credited for maintaining the stability of the Lebanese pound until 2019, Salameh is accused of corruption, money laundering and running the largest Ponzi scheme in history. Early life Riad Salameh was born in Antelias in 1950 into a Christian Maronite family of successful business people, long based in Liberia. His father Toufic Salameh owned the Cedars Hotel in Broummana, and his mother Raniah was a "well-known charitable activist" and Lebanese Red Cross member who was murdered in 1982. He has three siblings. Salameh grew up in his grandfather's house in Ante ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Governor
A governor is an administrative leader and head of a polity or political region, ranking under the head of state and in some cases, such as governors-general, as the head of state's official representative. Depending on the type of political region or polity, a ''governor'' may be either appointed or elected, and the governor's powers can vary significantly, depending on the public laws in place locally. The adjective pertaining to a governor is gubernatorial, from the Latin root ''gubernare''. Ancient empires Pre-Roman empires Though the legal and administrative framework of provinces, each administrated by a governor, was created by the Romans, the term ''governor'' has been a convenient term for historians to describe similar systems in antiquity. Indeed, many regions of the pre-Roman antiquity were ultimately replaced by Roman 'standardized' provincial governments after their conquest by Rome. Plato used the metaphor of turning the Ship of State with a rudder; the Latin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liberia
Liberia (), officially the Republic of Liberia, is a country on the West African coast. It is bordered by Sierra Leone to Liberia–Sierra Leone border, its northwest, Guinea to its north, Ivory Coast to its east, and the Atlantic Ocean to its south and southwest. It has a population of around 5 million and covers an area of . English is the official language, but over 20 indigenous languages are spoken, reflecting the country's ethnic and cultural diversity. The country's capital and largest city is Monrovia. Liberia began in the early 19th century as a project of the American Colonization Society (ACS), which believed black people would face better chances for freedom and prosperity in Africa than in the United States. Between 1822 and the outbreak of the American Civil War in 1861, more than 15,000 freed and free-born black people who faced social and legal oppression in the U.S., along with 3,198 Afro-Caribbeans, relocated to Liberia. Gradually developing an Americo- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hassan Diab
Hassan Diab ( ar, حسان دياب, Ḥassān Dyāb; born 1 June 1959) is a Lebanese academic, engineer and politician who served as the 37th Prime Minister of Lebanon, prime minister of Lebanon from 21 January 2020 to 10 September 2021. He was appointed by President Michel Aoun in 2019 to succeed Saad Hariri as prime minister. He submitted his resignation on 10 August 2020 in wake of the 2020 Beirut explosion, explosion in Beirut and served as Caretaker government, caretaker prime minister until Najib Mikati formed a new government on 10 September 2021. Prior to his premiership, he served as the Ministry of Education and Higher Education (Lebanon), minister of education from June 2011 to February 2014 under President Michel Suleiman. Early life and education Diab was born in Beirut on 1 June 1959. He has a bachelor of science degree in communications engineering, which he received from Leeds Metropolitan University in 1981. Then he obtained a master's degree in systems engineer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2019–2020 Lebanese Protests
The 17 October Protests, commonly referred to as the 17 October Revolution () is a series of civil protests taking place in Lebanon. These national protests were triggered by planned taxes on gasoline, tobacco, and VoIP calls on applications such as WhatsApp, but quickly expanding into a country-wide condemnation of sectarian rule, the stagnant economy, stagnation of the economy, unemployment (which reached 46% in 2018), endemic Corruption in Lebanon, corruption in the public sector, legislation that was perceived to shield the ruling class from accountability (such as Bank secrecy, banking secrecy) and failures of the government to provide basic services such as electricity, water, and sanitation. The protests created a political crisis in Lebanon, with Prime Minister Saad Hariri tendering his resignation and echoing protesters' demands for a government of Independent politician, independent specialists. A Cabinet of Hassan Diab, cabinet headed by Hassan Diab was formed in 202 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swap (finance)
In finance, a swap is an agreement between two counterparties to exchange financial instruments, cashflows, or payments for a certain time. The instruments can be almost anything but most swaps involve cash based on a notional principal amount.Financial Industry Business Ontology Version 2 Annex D: Derivatives, EDM Council, Inc., Object Management Group, Inc., 2019 The general swap can also be seen as a series of forward contracts through which two parties exchange financial instruments, resulting in a common series of exchange dates and two streams of instruments, the ''legs'' of the swap. The legs can be almost anything but usually one leg involves cash flows based on a |
Financial Stability Board
The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established after the G20 London summit in April 2009 as a successor to the Financial Stability Forum (FSF). The Board includes all G20 major economies, FSF members, and the European Commission. Hosted and funded by the Bank for International Settlements, the board is based in Basel, Switzerland, and is established as a not-for-profit association under Swiss law. The FSB represented the G20 leaders' first major international institutional innovation. U.S. Treasury Secretary Tim Geithner has described it as "in effect, a fourth pillar" of the architecture of global economic governance. The FSB has been assigned a number of important tasks, working alongside the International Monetary Fund, World Bank, and the World Trade Organization. Unlike most multilateral financial institutions, the FSB lacks a legal form and any formal power, given ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Bank Group
The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Group. The bank is headquartered in Washington, D.C. in the United States. It provided around $98.83 billion in loans and assistance to "developing" and transition countries in the 2021 fiscal year. The bank's stated mission is to achieve the twin goals of ending extreme poverty and building shared prosperity.The World Bank, Press release: "World Bank Group Commitments Rise Sharply in FY14 Amid Organizational Change"July 1 2014, http://www.worldbank.org/en/news/press-release/2014/07/01/world-bank-group-commitments-rise-sharply-in-fy14-amid-organizational-change/ref> Total lending as of 2015 for the last 10 years through Development Policy Financing was approximately $117 billion. Its five organizations are the International Bank for Reconstruc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arab Monetary Fund
The Arab Monetary Fund (AMF) is a regional Arab organization, a working sub-organization of the Arab League. It was founded 1976, and has been operational since 1977. History The first president and director of the Arab Monetary Fund, from 1977 to 1982, was Dr. Jawad Hashim. In 1982, the Arab Monetary Fund funded and supervised the launch of Investcorp. Nemir Kirdar was transferred from Chase, where he advised the AMF, to Abu Dhabi to develop the new fund. Omar Aggad was the first investor in this fund. Still in 1982, the AMF inaugurated the Arab Monetary Fund building in Abu Dhabi. In 1988, the AMF initiated civil actions against its former president Jawad Hashim to recover funds he embezzled (estimated $50 million) during his tenure. A 20-year long legal feud between the AMF and Jawad Hashim followed. In 1992, the AMF published its yearly Arab Economic Report in which the institution revealed that Arab countries had lost a total of $620 billion during the invasion of Kuwa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. , the fund had XDR 477 billion (a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lebanese Civil War
The Lebanese Civil War ( ar, الحرب الأهلية اللبنانية, translit=Al-Ḥarb al-Ahliyyah al-Libnāniyyah) was a multifaceted armed conflict that took place from 1975 to 1990. It resulted in an estimated 120,000 fatalities and an exodus of almost one million people from Lebanon. The diversity of the Lebanese population played a notable role in the lead-up to and during the conflict: Sunni Muslims and Christians comprised the majority in the coastal cities; Shia Muslims were primarily based in the south and the Beqaa Valley in the east; and Druze and Christians populated the country's mountainous areas. The Lebanese government had been run under the significant influence of elites within the Maronite Christian community. The link between politics and religion had been reinforced under the French Mandate from 1920 to 1943, and the country's parliamentary structure favoured a leading position for its Christian-majority population. However, the country had a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Portfolio Manager
A portfolio manager (PM) is a professional responsible for making investment decisions and carrying out investment activities on behalf of vested individuals or institutions. Clients invest their money into the PM's investment policy for future growth, such as a retirement fund, endowment fund, or education fund. PMs work with a team of analysts and researchers and are responsible for establishing an investment strategy, selecting appropriate investments, and allocating each investment properly towards an investment fund or asset management vehicle. Model In the 1950s, Harry Markowitz, an American economist, developed the modern portfolio theory. Jack Treynor (1961, 1962), William F. Sharpe (1964), John Lintner (1965) and Jan Mossin (1966) later build the Capital Asset Pricing Model (CAPM) on the theory of Markowitz. Nowadays, the CAPM is one of the primary portfolio management tools. The formula calculates the potential return percentage of an investment vehicle based on its vest ... [...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] |
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