As part of enhancing mutual cooperation between the two parties, the President of the Arab Banks Union, Wissam Fattouh, visited the Chairman of the Board and General Manager of the Housing Bank, Antoine Habib, at the bank's headquarters, in the presence of board member Tawfiq Naji.
During the meeting, ways to strengthen cooperation between the Arab Banks Union and the Housing Bank were discussed, and an agreement was reached to sign a cooperation agreement to exchange expertise between the two sides. The Arab Banks Union will support the Housing Bank in obtaining loans or grants from Arab banks and Arab financial funds as well as international financial organizations and institutions to ensure the continuity of loans for Lebanese individuals with limited and medium incomes.
Fattouh stated after the meeting that the Housing Bank has made a significant and tangible difference among the operating Lebanese banks, particularly in terms of social development in Lebanon, especially in the absence of any financing from the banking sector for reasons that have become well-known. He noted that the Housing Bank's funding is aimed at those with limited and medium incomes, positively impacting social development specifically.
He added: "During my meetings with Arab funds, I found that the Housing Bank institution is of a global level, as the bank's structure is highly sophisticated in terms of commitment management, risk management, accounting auditing, and governance. It is indeed an institutional structure that rivals major organizations, which greatly enhances the confidence of donor organizations and funds in the Housing Bank, thus facilitating the granting of loans or grants."
Fattouh also proposed during the meeting what is called "financial literacy" as a major challenge facing institutions. This involves educating rural residents on financial matters, techniques, and related conditions by organizing training courses for those wishing to obtain loans from the Housing Bank, which will ease financing procedures on one hand and reduce risk levels on the other.
To this end, preparations are underway for a cooperation agreement that will be signed soon between the Arab Banks Union and the Housing Bank, to organize training and qualification courses. This initiative has already been implemented by the union in some Arab countries such as Egypt and Jordan, as well as in Lebanon before 2019.
"We are pleased and honored to invite the Housing Bank to participate in the conferences organized by the union, either as a speaker or participant, and to hold side meetings on the sidelines of these conferences," he concluded.
