Mapping the Control of Lebanese Politicians over the Banking Sector
By Dr. Jad Chaaban
Lebanese banking sector • 54 commercial banks, of which 20 control 99% of sector assets • Highly concentrated: Top 15 banks (Alpha Group) control 96%
A Seminar held on Sep. 15, 2015: Presented the results of ongoing research which explores the relationship between Lebanese banks and the ruling class in the country. The project is part of a wider regional initiative entitled “The Political Economy Determinants of Private Sector Dynamism in the Middle East”, coordinated by the Economic Research Forum. The seminar revealed new data on the ultimate shareholders of Lebanese commercial banks, which allows the full identification of the ownership structure of these banks and their close connections with the ruling class. The impact of the political elite’s capture of the banking industry as also discussed.
Two objectives: – Map the ultimate shareholders of Lebanese commercial banks and identify their linkages with the ruling class – Analyze the impact of elite capture on the efficiency of the banking sector