São Paulo – The chairman of the General Union of Arab Chambers of Commerce, Industry and Ag, Adnan Kassar, received the title of “2012-2013 Arab Banker of the Year” from the Union of Arab Banks, during the International Arab Banking Summit in Vienna, Austria last week. The announcement was made last Tuesday (2nd) in a communiqué from the General Union, to which the Arab Brazilian Chamber of Commerce is affiliated.
The Lebanese-born Kassar is the chairman of the Beirut, Lebanon-based Fransabank. According to the communiqué, he was awarded for his contribution to the development of the private sector in the Arab world, of inter-Arab trade and banking relations, of relations between Arab and international economic and financial institutions, and for his “active role” in promoting trade and investment between Arab countries, job creation, and for his commitment to corporate social responsibility.
According to the communiqué, the summit in Vienna was organized by the Union of Arab Banks and the Austrian-Arab Chamber of Commerce, and the theme was “The Role of Arab Banks in Civil Capacity Building in Post-Conflict Phase.” The event was sponsored by the Austrian president Heinz Fischer, according to the General Union, and attended by delegates from various sectorial and multilateral organizations, bankers, central bank governors, ministers, diplomats and other personalities.
“The road ahead for Arab cooperation is still long. We need stronger cooperation mechanisms to cope with any upcoming crisis or future developments,” said Kassar upon accepting the award, according to the communiqué. He also spoke for the elimination of hurdles which prevent the expansion of Arab banks, and the growth of said institutions, so that they may provide a significant share of financing to projects in the region.
Kassar said he entered the banking industry alongside his brother Adel, in the 80s, when Lebanon was in the midst of a civil war and several foreign financial institutions were fleeing the country, which had formerly been known for its solid financial system. He noted, however, that he started his career not in banking, but in trade. Currently, each of the two brothers retains a 39% share of Fransabank.
Kassar was formerly the Lebanese minister of Economy and Trade, and he was the first Arab ever to preside over the International Chamber of Commerce in Paris.
*Translated by Gabriel Pomerancblum
