Lebanese Banks Ready For Basel III, Torbey Says.
Most Lebanese banks are ready to comply with the Basel III conditions, according to Joseph Torbey, president of the Association of Banks in Lebanon (ABL).
Lebanon's banking sector saw an aggregate capital growth of 16 percent in 2011, Torbey said during the conference on implementing Basel III in Arab banks, held on March 15. Bank total assets reached around $140 billion, constituting an increase of almost 9 percent from 2010, he said. “The deposits in the banking sector reached $116 billion, growing by 7.94 percent in 2011, he added.
BASEL III is a global regulatory standard on bank capital adequacy, stress testing and market liquidity risk agreed upon by the members of the Basel Committee on banking supervision in 2010-2011.
Lebanon’s Central Bank has recently announced its intention to enforce a boost on the Capital Adequacy Ratio to 12 percent, within the upcoming four years.
STRATEGIES & PLANS
A fundraising event, entitled Think Green, will be held by Zero Waste ACT for all its business members on September, 10,2013, at WHITE, Dora.
The Green Mind Association invited all Green Mind Award Participants, finalists, runner ups and winners to the GREEN MIND DAY on Jan-16-2013 in Beirut, to create a platform where interested Venture Capital and Potential Investors met with participants.
A green initiative launched by Ashrafieh 2020 project aims to transform Ashrafieh into a tranquil and unpolluted area.Green spaces allow residents to walk and ride bicycles.