Beirut: The American University of Beirut (AUB) hosted a significant conference titled “Restoring Financial Trust in Lebanon: Building Integrity for a Better Future.” The gathering brought together financial experts, policymakers, and academics from Lebanon and the region to engage in critical discussions about Lebanon’s financial reality. The conference aimed to explore systemic risks, emerging trends, and practical solutions to restore financial accountability and public trust. The event was organized by the Business Practice and Policy Initiative (BPPI) at AUB’s Suliman S. Olayan School of Business (OSB) in collaboration with the Good Governance and Citizenship Observatory (GGCO) at AUB.
According to National News Agency – Lebanon, the conference commenced with the Lebanese anthem and the AUB alma mater. Raghda Kawass, Knowledge and Public Policy Specialist at BPPI, officially opened the event with a welcoming note, emphasizing the importance of addressing urgent challenges and engaging in meaningful dialogue to foster economic recovery and resilience. Provost Zaher Dawy, representing AUB President Fadlo Khuri, highlighted the critical issue of depleted trust in Lebanon and called for collective action to seize opportunity amid setbacks.
OSB Dean Yusuf Sidani underscored the role of educational institutions in promoting transparency and ethics. He stressed the importance of instilling social responsibility in students and highlighted efforts to incorporate ethics into the curriculum and beyond. Sidani asserted the role of OSB and AUB in advancing financial trust in Lebanon and its institutions.
Simon Kachar, GGCO Director, focused on the role of civic engagement in restoring governance trust. He emphasized the need for transparency and anti-corruption as measurable outcomes of robust civic participation, advocating for citizens as active agents of change in transforming governance systems. BPPI Director Nivine Ahmed highlighted the urgency of restoring financial trust in Lebanon and the necessity of concrete, measurable actions and open dialogue among stakeholders.
Lebanon’s Deputy Prime Minister Tarek Mitri delivered a keynote address, discussing the government’s ongoing reforms to rebuild public trust and restore financial system credibility. Mitri outlined three key legislative efforts: lifting bank secrecy, managing failing banks to protect the financial system, and addressing Lebanon’s financial deficit. He emphasized the importance of transparency and accountability for international support and long-term recovery.
The conference featured keynote speeches and panel discussions on good governance, economic recovery, and sustainable development. Former World Bank Director Jamal Saghir presented a cost-benefit analysis for promoting integrity and curbing corruption in Lebanon, highlighting the significant costs of corruption and the necessity of prioritizing anti-corruption measures.
Discussions continued with panels featuring a diverse range of experts. The first panel, “From Systems to Safeguards: A Comprehensive Approach to Anti-Corruption,” included experts from various fields and was moderated by Rania Uwaydah Mardini. Judge Georges Attieh and Dr. Simon Kachar addressed public legal reform and good governance. Another panel, “Banking Regulations and Financial Stability: Restoring Confidence in Lebanon’s Financial System,” featured prominent figures and concluded with remarks by Professor Assem Safieddine.