LIVING TO 100
TBY talks to Anwar Jammal, Chairman & CEO of Jammal Trust Bank (JTB), on its contributions to the economy, working with SMEs, and the outlook for the coming years.

BIOGRAPHY
Anwar Jammal is the Chairman & CEO of Jammal Trust Bank (JTB) A University of Westminster MBA graduate with more than 30 years of experience in the banking and financial sector, he practiced in different institutions and headed several committees before joining JTB, where he climbed up the ladder, taking incremental steps toward the highest position by combining a mix of professional leadership and business strategy. He was elected Chairman/General Manager in 2005 after his late father, founding Chairman Mr. Ali Jammal.What have been the major contributions of JTB to the Lebanese economy since you were first established?
We have been part of Lebanon for over 50 years, providing financial services to a wide array of customers. Lebanon has a large number of people working in the informal sector, in what is often called the “grey economy." When we talk about the informal economy, we mean those small family businesses and micro-shops that are not formally registered on government books, but still have their fair share of economic development in the country. JTB has been there since the outset to actually support these promising micro-firms; this has been our major contribution to the overall economy.
How has your customer-sensitive approach set you apart from other banking institutions in Lebanon?
There is a popular birthday wish in Lebanon: “We hope you live to be a hundred years," which we often apply to entrepreneurs opening a new business in the form of “We hope you become the largest in your sector." For JTB, this has never been the case. Since its emergence, the bank has never aimed to become the biggest player in the financial sector, nor to become the largest bank. Stretching our capacities to these spheres would make us lose our 'uniqueness' and force us to treat our customers as just numbers rather than individuals. Something that still makes JTB what it is today: to serve people. We want to have a genuinely personalized approach to banking; something that has gotten lost in most places around the globe.
How has JTB promoted microfinance, and what benefits does the banking segment bring?
We were the first bank to introduce micro-credit into the Lebanese market. We started this segment 17 years ago serving the unbanked; those who would recur to their neighbors or friends to borrow cash and who would end up paying back multiples of what they initially borrowed. We approached those people who were skeptical of dealing with banks, and we encouraged them to abandon their taboos of not using banking institutions for their financial needs. It is of relevance to mention that microfinance is often confused with the microcredit you can obtain from a retail shop to purchase a determined item. As opposed to microcredit that only aims to improve people's livelihood, microfinance aims to lend money to people to develop their businesses and improve their livelihood.
Considering 90% of Lebanese companies are SMEs, has JTB found its niche market in this segment?
One of the characteristics that is constantly overlooked about the SMEs operating in Lebanon is that only around 50% of them are officially registered on government books, with the rest operating informally but still contributing enormously to the economy. Throughout JTB's history we have catered to all those small businesses in Lebanon and effectively managed to migrate them from the unbanked group to the bankable group of businesses; and they flourished. It has been a demanding journey and we, at JTB, are proud of every step, every touch point, and every turning point. A journey some large banks decided to shy away from, there is a know-how, an appetite, and a certain finesse required to do business with these small firms.
Looking ahead, where do you see JTB going in the next two years?
We will move up a few notches in the industry but never pass the 15th position in the overall banking sector ranking. This is because of the reasons I explained before that set us apart from other players in terms of customer satisfaction and how we approach them. Our slogan “We Speak Your Language," remains as strong and as real as ever. That does not mean I do not dream big. I would like to see JTB move abroad to other markets in Africa and in Europe to serve our clients needs there. We have big plans for the future, but with cautious steps as we have always been.

TABLE OF CONTENTS
Focus: Lebanese-French Relations
Let’s be Franc
Lebanon shares a close relationship with its former colonizer, both in terms of economic relations and cultural identity among Lebanese. In spite of hardships like the presidential power vacuum and Syrian war next door, the bond is only getting stronger.
read articleFocus: Tripoli Economic Free Zone
The Tripoli Transformation
The Tripoli Special Economic Zone (TSEZ) is one of most ambitious projects in Lebanon at the moment. With an initial cost of USD27 million, it is meant to provide an alternative to the heavily centralized economic activity in Beirut, a new gateway for investments and trade to settle in northern Lebanon, and will transform the image of a long-neglected region.
read articleInterview
Dr. Freddie Baz, Vice Chairman & Group Strategy Director, Bank Audi
TBY talks to Dr. Freddie Baz, Vice Chairman & Group Strategy Director of Bank Audi, on the bank's increase in profits, dealing with currency devaluation, and working to turn the economy into an export-driven one.
read articleReview: Insurance
Life is a Rollercoaster
Unlike many emerging markets, Lebanon enjoys a relatively high insurance penetration rate and strong life segment, buoyed by compulsory lines and bancassurance. Competition remains fierce, however, and reform aimed at encouraging consolidation looks far off.
read articleInterview
Max R. Zaccar, Chairman of Commercial Insurance & President of the Association, Insurance Companies
TBY talks to Max R. Zaccar, Chairman of Commercial Insurance & President of the Association of Insurance Companies, on the resilience of the sector, increasing the already-high penetration rates in the country, and remaining one of the strongest insurance companies in the region.
read articleInterview
HE Arthur Nazarian, Minister, Energy and Water Resources
TBY talks to HE Arthur Nazarian, Minister of Energy and Water Resources, on the potential offshoots from oil and gas explorations, the country's National Energy Efficiency Action Plan, and attempts to increase renewable energy consumption.
read articleInterview
Wissam Zahabi, Chairman, Board of the Lebanese Petroleum Administration (LPA),
TBY talks to Wissam Zahabi, Chairman of the Board of the Lebanese Petroleum Administration (LPA), on making the investment climate attractive for foreign companies and becoming self-sufficient in energy.
read articleFocus: Sovereign Wealth Funds
Gas Pipe Dreams
Despite excitement over exploration of Lebanon's hydrocarbons, the creation of a sovereign wealth fund, which was included in legislation, has yet to take place. The country faces several obstacles in its path to creating and properly managing a fund.
read articleInterview
Pierre El Khoury, General Director, Lebanese Center for Energy Conservation (LCEC)
TBY talks to Pierre El Khoury, General Director of the Lebanese Center for Energy Conservation (LCEC), on the development of energy efficiency in Lebanon, awareness of energy conservation, and the country's 2020 renewable energy goals.
read articleInterview
Dr. Fady Gemayel, President, Association of Lebanese Industrialists (ALI)
TBY talks to Dr. Fady Gemayel, President of the Association of Lebanese Industrialists (ALI), on the group's work to promote industrialists, new developments in terms of industrial cities, and the future of industry in the country.
read articleFocus: Industrial Cities
Industrial Solution
Domestic and regional events have stifled Lebanon in building a strong national industry to protect and sustain its economy. Four proposed industrial zones throughout the country may provide it with the economic backbone it so desperately needs.
read articleInterview
Marianne Hoayek, Director of the Executive Office, Banque du Liban
TBY talks to Marianne Hoayek, Director of the Executive Office of Banque du Liban, on the roots of the Circular 331 concept, bridging funding gaps throughout the startup lifecycle, and the country's growing knowledge economy.
read articleRoundtable
Thinking It Through
On June 12, TBY and the American-Lebanese Chamber of Commerce (AmCham) organized a roundtable titled “Startup ecosystem sustainability: fostering cooperation to drive entrepreneurship." The participants discussed the impact of Circular 331, an initiative by Bank du Liban, the Lebanese central bank, to inject a potential of USD400 million into the local enterprise market and guarantee 75% of banks' investments in startups and startup support.
read articleFocus: Infrastructure for the startup ecosystem
The New Star
Startups are ubiquitous in Lebanon despite the difficulty of starting a business and the lack of services available to new businesses. However, a number of actors, both public and private, are innovating the environment and allowing startups to fulfill a greater role in the country's economy.
read articleFocus: Maritime Exports Bridge
Bridging The Gap
The conflict in Syria has wrought serious damage on the Lebanese economy, effectively closing off the country's trade routes through Syria. However, a new program geared at balancing the price disparities between land and sea transit is poised to help Lebanese industries.
read articleFocus: Real Estate
A Stimulus For The Rest Of Us
The real estate market in Lebanon is nothing like it used to be. The sector has slowed considerably, and demand has shifted from the traditional center, Beirut. However, stimulus packages from the central bank over the years have proven beneficial for all parties involved.
read articleInterview
Armand Pahrés, President, Lebanese Pharmaceutical Importers Association (LPIA)
TBY talks to Armand Pahrés, President of the Lebanese Pharmaceutical Importers Association (LPIA), on the development of legislation in the sector, boosting further innovation, and opportunities for Lebanon to become more self-sufficient in pharmaceuticals.
read articleFocus: Incentives for pharmaceuticals in Lebanon
Pharma Land
Lebanon has always been the region's leader in all things health related. Its pharmaceutical industry is no exception, and the country's incentives for international pharma companies to operate, manufacture, and distribute in Lebanon are only getting stronger.
read articleInterview
HE Elias Bou Saab, Minister, Education and Higher Education
TBY talks to HE Elias Bou Saab, Minister of Education and Higher Education, on the ministry's initiatives to improve the education system, ensuring access to education for Syrian refugee children, and reversing the brain drain in the country.
read articleInterview
Mohamed Harajli, Provost, American University of Beirut (AUB)
TBY talks to Mohamed Harajli, Provost of the American University of Beirut (AUB), on his upcoming plans for the university, the key role played by the AUB alumni, and fostering an entrepreneurial spirit among students.
read articleFocus: Programs to school Syrian refugee children
High Marks
Proportional to its population, Lebanon has taken in significantly more Syrian refugees than any other country. With the country now facing the problem of placing the tens of thousands of Syrian children in school, international donors and local and foreign organizations are making educational support a priority.
read articleInterview
Joseph G. Jabbra, President, Lebanese American University (LAU)
TBY talks to Joseph G. Jabbra, President of the Lebanese American University (LAU), on embracing technology at the university, the challenges of Lebanon's brain drain, and the importance of having international links with other institutions.
read article