BBAC Supports Al Jabal Marathon for the Sixth Year in a Row

Under the slogan "We Run for Childhood", Al Jabal Marathon set off under BBAC’s support for the sixth consecutive year, as a part of the bank’s long-term commitment to support Lebanese youth’s development in various fields, and out of its belief in the importance of humanitarian, environmental, sports and cultural activities. The race took place in the Chouf district, starting in the village of Deir Al-Qamar and ending in Baakline, in the presence of thousands from all Lebanese regions, and BBAC employees, who were keen to take part in the event.

Commenting on this event, Mr. Nadim Hamadeh, Assistant General Manager for Banking at BBAC, said: “BBAC takes pride in being the main supporter of Al Jabal Marathon since its inception in 2010, the event that brings together people from different backgrounds each year, under the umbrella of love, peace and brotherhood.”

"Our presence emphasizes our commitment to help the people from the Chouf, through activities that aim at building a better society, and through our support to this race in particular, that targets the youth. We assure for the sixth year in a row that we, at BBAC, will keep supporting Al-Jabal Marathon that reflects the true act of caring through words and deeds.”

The marathon was concluded with an award ceremony at BBAC-Baakline branch; the race’s end point  in the presence of key social figures, municipality leaders, heads of the schools and universities involved, and of course, BBAC representatives.

BBAC Takes Part in MUBS's Young Entrepreneur Contest Ceremony

Mr. Ghassan Assaf, Chairman and General Manager of BBAC, participated in MUBS’s Young Entrepreneur Contest ceremony. The event was organized by the Modern University for Business and Science (MUBS), in collaboration with the United Nations Information Center in Beirut, to announce the winners of the "Entrepreneurship for Youth to the Year 2016" contest, at the UNESCO Palace, Beirut.

The competition, held under the auspices of BBAC, aims to develop a culture of entrepreneurship, stimulate the spirit of innovation and creativity among the youth, and to build confidence in their abilities through unleashing their imagination to design small-scale projects able to build their capacities and promote entrepreneurship.

As a guest of honor and a key speaker at the event, Mr. Assaf shared his experience and advice with the youth, around the topics of digital economy, Internet and the role of technology and modern economy in entrepreneurship.

In his speech, Mr. Assaf shared with the students success stories of young entrepreneurs, stressing that the most successful people in the world of innovation, particularly in the digital economy, shined in their early working lives. He also pointed out that success in modern economy is open to all entrepreneurs, and accessible to all those aiming for development, especially in the digital domain.

Mr. Assaf then mentioned the difficulties and challenges young people face with the current recession and lack of job opportunities, and how these conditions play a role in urging young people towards creativity and innovation. He said: "Due to the rising unemployment ratio in developed countries, many young men and women commenced to establish their own companies based on innovation, especially in the domains of informatics applications and E-commerce because it does not require a large capital but new executable concepts."

Mr. Assaf also spoke about the possibility of youth in innovation and creativity in different areas in addition to digital economy and Internet, especially with the presence of many facilities, saying: "There are a number of programs available to entrepreneurs and emerging companies to obtain funds or soft loans, such as the "Kafalat loans for Entrepreneurs”, that can be accessed through BBAC, which contributed to the creation of many local success stories in various areas."

It is worth mentioning that BBAC has signed a Memorandum of Understanding (MoU) with MUBS in 2015, in order to open up more opportunities for both students and bank’s staff for knowledge exchange, along with establishing experiences, aptitudes, and communication networks in different areas.

Sheikh Ghassan Assaf: BBAC Seeks Further Growth in 2016 - The Daily Star

The drop in oil prices poses a challenge to growth, but BBAC is determined to capture a bigger share of the banking market by raising its loans to deposits ratio. In an interview with the Lebanese newspaper The Daily Star, BBAC's Chairman - General Manager Sheikh Ghassan Assaf shared his plans to grow the bank’s loan portfolio domestically and regionally, and his insights on key issues facing the economy and the banking sector.