São Paulo – Arab investors are interested in participating in the real estate, industrial and financial sectors in Brazil. This statement is by the head of the Intercontinental Bank of Lebanon office in the country, Roland Fouad Aboukhater. The branch of the Lebanese office in São Paulo intermediates Arab business and investment in Brazil and Brazilian investment in the Arab countries.
The office was installed in Brazil in 2004 and is developing two projects. One is related to exports of Brazilian sugar to the Arab market and the other involves partnerships for Arab investment in wind energy in southern Brazil. "We cannot disclose greater details, but they are projects that are already in progress," he said.
According to Aboukhater, evaluation of investment normally takes three years. "After the global crisis, everybody noticed that Brazil has a strong economy and that it is safe to invest in the country, which guarantees return," he said. The executive has been in charge of business intermediated by the office since May.
"If the return is positive, new investment will certainly come," stated Aboukhater regarding new perspectives. Still according to him, the office recently intermediated Arab investment in the shoe industry in São Paulo and Southern Brazil.
The choice of Brazil for establishment of an office is due to the large Lebanese and Syrian colony here. "There are many Arabs and their descendants in Brazil and we want to work with these people," said Aboukhater. "We manage to facilitate contact with members of their families living in Lebanon and Syria, but our assistance in investment is our strong point," he said.
IBL
Intercontinental Bank of Lebanon (IBL) was established in 1961 by a group of investors led by banker Joseph Saab, as Société Anonyme, with a social capital of 8 million Lebanese pounds (US$ 5,200 at current exchange rates).
In 1998, most of the bank’s shares were purchased by a group of Lebanese and foreign investors. One year later, in September 1999, the bank acquired the entire capital of BCP Oriel Bank and, thus, all the bank’s branches started operating under the Intercontinental Bank of Lebanon brand.
The bank currently has 20 branches in Lebanon, a representative office in Brazil and nine branches abroad. In 2008, IBL opened three new branches abroad: one in Limassol, in Cyrpus, and another two in Iraq.
Contact
IBL São Paulo Office
Telephone: (+55 11) 5539.3825
E-mail: raboukhater@ibl.com.lb
Site: www.ibl.com.lb
*Translated by Mark Ament
