Bitcoin Should Be The Saving Choice of Lebanon #Bitcoin #Saving #Choice #Lebanon Welcome to JibGlobe, here is the new resources we have for you today:
Thomas Semaan is a finance and economics enthusiast. He launched an Arabic speaking podcast about Bitcoin, economics and Lebanon. Thomas is also an active member of the Lebanese and Arab Bitcoin community.
Behind the destroyed, unlit roads and the emptiness of its downtown, Beirut has huge skyscrapers that play the role of the headquarters of Lebanon’s local banks. The tale of the Lebanese successful banking reputation dates back to the inception of the Lebanese state in 1943. You can pinpoint the success of this sector to many different aspects, including but not limited to the central bank’s once-strict monetary policy, the acquisition of huge amounts of gold in the 20th century making Lebanon the third-largest holder of gold per capita in the world and number one in the middle east and north of Africa, or the banking secrecy law that imitate the Swiss banking sector which attracted many wealthy individuals and corporations to leverage it. Also, under the often seemingly under-developed aspects of the country, lies a huge public sector, one that gives the impression to be all about productivity and services, but is actually welfarist in essence.
Prior to 2020, two types of jobs were considered lucrative for the average Lebanese citizen: working in banking or working in the government. Working in banking meant that you are essentially part of a too-big-to-fail industry, while working in the government meant that you get to earn an above average salary, more than regular benefits and end of services indemnity with barely any effort or skills and guaranteed by law that you will never be fired from your position. All this was possible thanks to a third contributor to the formula, the financier of the Lebanese banking sector.