Marwan Kheireddine is a prominent Lebanese entrepreneur, banker, and the Chief Executive of Al Mawarid (AM) Bank. He has been in the banking industry for a significant period and has assisted many people in attaining their goals in finance. Kheireddine served as a minister in the Lebanese government from 1989 to 1992 and has held membership in several committees. Recently, Marwan discussed various ways Lebanon can develop its economic status. This country’s economy has experienced food shortages, and inflation that is over 200%. Commodities prices have significantly risen since 2019, and many ventures have experienced difficulties due to the Russia-Ukraine conflict.
Marwan Kheireddine on How The Conflict Between Russia And Ukraine Has Affected Lebanon
Lebanese banker and thought leader Marwan Kheireddine believes this conflict has negatively impacted the Lebanese economy because Lebanon imports most consumables from Ukraine. The cost of commodities such as energy and food has reached new heights, causing an economic crisis in Lebanon.
The banking expert Marwan Kheireddine also thinks the MOU between Lebanon and the International Monetary Fund (IMF) was unconstitutional because the IMF had pledged to finance Lebanon during its current crisis. On June 24th, AM Bank announced the withdrawal of its membership from Lebanon’s Union of Banks until several matters were resolved. Recently, Kheireddine said to Forbes Middle East that the Lebanese Banking Association was not at the forefront of protecting depositors, the banking industry’s backbone at various banks.
Various Solutions That Kheireddine Thinks Can Help in the Recovery of Lebanon’s Economy
Marwan Kheireddine believes the nation could develop its economy if the Lebanese government could support the youth and the private sector. He also says that technology can play a significant role in the economy’s recovery because most youths understand how to use technology in various undertakings. Marwan also believes that if the political instability in Lebanon could be dealt with, the nation could have a good economy after a short while.