Jihad Azour
Encyclopedia
Jihad Azour (born 4 May 1964), is a Lebanese
economist and politician, he has served as Lebanon's Minister of Finance under Fouad Saniora's government from 2005 to 2008.
(IEP) in France in 1996. While completing his PhD, he served as post doctoral fellow at Harvard University
's Department of Economics researching the integration of emerging economies in the global economy. Azour also holds a post-graduate degree in International Economic and Finance (with honours), and a Master's in Applied Economics from Dauphine University, Paris
, France. The thesis he wrote then was awarded the best student research in 1987 by INSEE
(the French National Institute for Statistics and Economic Studies).
's Minister of Finance. During this time, Azour has focused on formulating, implementing and monitoring an economic and social reform program that was presented by the government at the International Conference for Support to Lebanon-Paris III, which resulted in support from the international community worth USD 7.6 billion in pledges. He has also focused on maintaining financial stability given the trying political, security and economic challenges in Lebanon which have characterized his term in office.
During his term as Minister of Finance, the Ministry has witnessed wide-ranging and effective implementation of reforms These have been cross-cutting and include undertaking revenue-management and administrative reform towards a function-based structure, undertaking budget and financial management reform, strengthening debt management, reforming capital markets, facilitating trade and customs procedures, modernizing cadastre operations, improving the business environment, enhancing donor coordination capacity building and human resource upgrading, and upgrading and automating IT infrastructure.
Jihad Azour has given importance to implementing the transparency strategy of the Ministry of Finance. He has initiated the publication of pertinent reports including establishing a quarterly meeting with donors and publishing a quarterly report on the status of the pledges made at the Paris III conference, on the use of funds, and on the progress made to the economic and social reform program. During Azour’s term, the fiscal accounts of the Lebanese government for the period 1993-2006 were audited and published, for the first time by any government in Lebanon.
Initiatives spearheaded by Azour include institutionalizing dialogue with the private sector which has resulted in the simplification of several finance, customs and tax procedures. Azour has also been a passionate promoter of youth empowerment initiatives and spearheaded such initiatives as the BADER Young Entrepreneurs Program, and the Youth Economic Forum.
In 2007, the Ministry of Finance was awarded the prestigious United Nations Public Service Award for the category "Improving the Delivery of Services." Azour's work as Finance Minister, and in his former role as advisor, had worked on the reforms in building a modern tax administration and in what is considered a successful VAT introduction which led to the award.
(UNDP) Project at the Ministry of Finance, and as senior advisor to the Minister of Finance with Georges Corm
(until October 2000) and Fuad Siniora (October 2000 – October 2004). During this assignment Azour supervised and managed all reform projects within the various departments of the Ministry of Finance covering income tax modernization, budget and accounting reform, treasury management reform, debt management reform, and the automation of registry and cadastre operation. It was also during this time that the Value Added Tax
was introduced.
Azour also worked on mobilizing and coordinating a program of technical assistance from several international and bilateral organizations, managed the Lebanese Government's liability and external borrowing program through the international capital markets and led an effort at the Ministry of Finance to modernize Lebanese capital markets through the listing more than 12 Eurobonds issued by the Lebanese Republic on the Beirut Stock Exchange
(a first in the region).
It was also during this period that Azour introduced measures to improve transparency at the Ministry of Finance through different means by disseminating fiscal information through an increase in the number of reports and publications, workshops, conference, and the development of websites.
(January – June 2005). Azour also consulted for the International Monetary Fund
's Fiscal Affairs Department (February – March 2005) on reforming Qatar's tax structure.
Azour has taught courses at the American University of Beirut
on “Macroeconomic management in Lebanon” (2004), and on “Modern Commercial Banks’ Management” (1998–2000).
§ In French:
§ In English:
In addition, Jihad Azour has organized and led several conferences and seminars, including contributing, as a speaker, to various conferences and workshops.
Lebanon
Lebanon , officially the Republic of LebanonRepublic of Lebanon is the most common term used by Lebanese government agencies. The term Lebanese Republic, a literal translation of the official Arabic and French names that is not used in today's world. Arabic is the most common language spoken among...
economist and politician, he has served as Lebanon's Minister of Finance under Fouad Saniora's government from 2005 to 2008.
Education
Azour obtained his PhD (with high honours) in International Finance from the Institut d'Etudes Politiques de ParisInstitut d'Etudes Politiques de Paris
The Institut d'études politiques de Paris , simply referred to as Sciences Po , is a public research and higher education institution in Paris, France, specialised in the social sciences. It has the status of grand établissement, which allows its admissions process to be highly selective...
(IEP) in France in 1996. While completing his PhD, he served as post doctoral fellow at Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
's Department of Economics researching the integration of emerging economies in the global economy. Azour also holds a post-graduate degree in International Economic and Finance (with honours), and a Master's in Applied Economics from Dauphine University, Paris
Dauphine University, Paris
Paris-Dauphine University , often referred as Paris-Dauphine or Dauphine is a public research and higher education institution in Paris...
, France. The thesis he wrote then was awarded the best student research in 1987 by INSEE
INSEE
INSEE is the French National Institute for Statistics and Economic Studies. It collects and publishes information on the French economy and society, carrying out the periodic national census. Located in Paris, it is the French branch of Eurostat, European Statistical System...
(the French National Institute for Statistics and Economic Studies).
Minister of Finance, Lebanon (July 2005-July 2008)
During the period from July 2005 till July 2008, Jihad Azour served as LebanonLebanon
Lebanon , officially the Republic of LebanonRepublic of Lebanon is the most common term used by Lebanese government agencies. The term Lebanese Republic, a literal translation of the official Arabic and French names that is not used in today's world. Arabic is the most common language spoken among...
's Minister of Finance. During this time, Azour has focused on formulating, implementing and monitoring an economic and social reform program that was presented by the government at the International Conference for Support to Lebanon-Paris III, which resulted in support from the international community worth USD 7.6 billion in pledges. He has also focused on maintaining financial stability given the trying political, security and economic challenges in Lebanon which have characterized his term in office.
During his term as Minister of Finance, the Ministry has witnessed wide-ranging and effective implementation of reforms These have been cross-cutting and include undertaking revenue-management and administrative reform towards a function-based structure, undertaking budget and financial management reform, strengthening debt management, reforming capital markets, facilitating trade and customs procedures, modernizing cadastre operations, improving the business environment, enhancing donor coordination capacity building and human resource upgrading, and upgrading and automating IT infrastructure.
Jihad Azour has given importance to implementing the transparency strategy of the Ministry of Finance. He has initiated the publication of pertinent reports including establishing a quarterly meeting with donors and publishing a quarterly report on the status of the pledges made at the Paris III conference, on the use of funds, and on the progress made to the economic and social reform program. During Azour’s term, the fiscal accounts of the Lebanese government for the period 1993-2006 were audited and published, for the first time by any government in Lebanon.
Initiatives spearheaded by Azour include institutionalizing dialogue with the private sector which has resulted in the simplification of several finance, customs and tax procedures. Azour has also been a passionate promoter of youth empowerment initiatives and spearheaded such initiatives as the BADER Young Entrepreneurs Program, and the Youth Economic Forum.
In 2007, the Ministry of Finance was awarded the prestigious United Nations Public Service Award for the category "Improving the Delivery of Services." Azour's work as Finance Minister, and in his former role as advisor, had worked on the reforms in building a modern tax administration and in what is considered a successful VAT introduction which led to the award.
Senior advisor to Minister of Finance, Lebanon (1999–2004)
Azour's involvement in government began in 1999 as project director of the United Nations Development ProgrammeUnited Nations Development Programme
The United Nations Development Programme is the United Nations' global development network. It advocates for change and connects countries to knowledge, experience and resources to help people build a better life. UNDP operates in 177 countries, working with nations on their own solutions to...
(UNDP) Project at the Ministry of Finance, and as senior advisor to the Minister of Finance with Georges Corm
Georges Corm
Georges Corm is a Lebanese Economist and Historian. He is an economic consultant to international organizations and professor at Saint Joseph University in Beirut....
(until October 2000) and Fuad Siniora (October 2000 – October 2004). During this assignment Azour supervised and managed all reform projects within the various departments of the Ministry of Finance covering income tax modernization, budget and accounting reform, treasury management reform, debt management reform, and the automation of registry and cadastre operation. It was also during this time that the Value Added Tax
Value added tax
A value added tax or value-added tax is a form of consumption tax. From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the "value added" to a product, material or service, from an accounting point of view, by this stage of its...
was introduced.
Azour also worked on mobilizing and coordinating a program of technical assistance from several international and bilateral organizations, managed the Lebanese Government's liability and external borrowing program through the international capital markets and led an effort at the Ministry of Finance to modernize Lebanese capital markets through the listing more than 12 Eurobonds issued by the Lebanese Republic on the Beirut Stock Exchange
Beirut Stock Exchange
The Beirut Stock Exchange is the principal stock exchange of Lebanon. Located in Beirut, it is a public institution run by a committee including a Chairman, a Vice-Chairman and eight members appointed via a decree issued by the Council of Ministers, in accordance with a proposal by the Minister of...
(a first in the region).
It was also during this period that Azour introduced measures to improve transparency at the Ministry of Finance through different means by disseminating fiscal information through an increase in the number of reports and publications, workshops, conference, and the development of websites.
Consulting and teaching experience
Jihad Azour has also worked in the private sector with notable management consultancy firms. He served as a specialized management consultant with McKinsey and Company (1989–1993), as managing partner of AM&F Consulting (a management consulting firm specialized in emerging markets’ financial sector) (1996–1998), and as Subject Matter Expert with Booz Allen HamiltonBooz Allen Hamilton
Booz Allen Hamilton Inc. , or more commonly Booz Allen, is an American public consulting firm headquartered in McLean, Fairfax County, Virginia, with 80 other offices throughout the United States. Ralph Shrader is its Chairman and Chief Executive Officer. The firm was founded by Edwin Booz in...
(January – June 2005). Azour also consulted for the International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
's Fiscal Affairs Department (February – March 2005) on reforming Qatar's tax structure.
Azour has taught courses at the American University of Beirut
American University of Beirut
The American University of Beirut is a private, independent university in Beirut, Lebanon. It was founded as the Syrian Protestant College by American missionaries in 1866...
on “Macroeconomic management in Lebanon” (2004), and on “Modern Commercial Banks’ Management” (1998–2000).
Publications
Jihad Azour’s publications include:§ In French:
- "Délits d'Initiés en Europe", Le Monde Editions (1994), in collaboration with Mss C. Ducouloux-Favard (Lawyer, Professor in University of Paris IX-Dauphine), Book on insider trading in Europe.
- "Déontologie et Droit des Activités Financières", Le Monde Editions (1994), in collaboration with Ms A. Pezard (Judge, Advisor of the Director of Treasury), Book on ethics and regulations in finance.
- "Rapport sur l'Argent dans le Monde- 1995 and 1996", editor and contributor, REF Editions.
§ In English:
- "Fighting Money Laundering", Booklet for the Lebanese Banking Association (June 1997).
- “Fiduciary Operations: Legal, Economic, Financial, Regulatory, and Tax aspects”, Book co-author, Banque du Liban (1999).
- “Linking Economic Growth and Social Development in Lebanon”, Report co-author, UNDP (2000).
- Numerous articles and research papers on financial issues in different publications including: Revue Banque, Revue d'Economie Financière, Le MondeLe MondeLe Monde is a French daily evening newspaper owned by La Vie-Le Monde Group and edited in Paris. It is one of two French newspapers of record, and has generally been well respected since its first edition under founder Hubert Beuve-Méry on 19 December 1944...
, Marchés et techniques financières, Emerging Lebanon - Oxford Business Group, the Daily Star (Lebanon)Daily Star (Lebanon)The Daily Star is a pan-Middle East English language newspaper edited in Beirut. It was founded in 1952 by Kamel Mrowa, the publisher of the Arabic daily Al-Hayat to serve the growing number of expatriates brought by the oil industry...
, Le Commerce du Levant, An-NaharAn-NaharAn-Nahar , is the leading Arabic-language daily newspaper in Lebanon.It was first published on August 4, 1933 as a four-page, hand-set paper. The paper provided a platform for various free thinkers to express their views during the years of the Syria occupation of Lebanon. The paper can be best...
.
In addition, Jihad Azour has organized and led several conferences and seminars, including contributing, as a speaker, to various conferences and workshops.