Riad Salameh
Encyclopedia
Riad Salameh is the governor of the Central Bank of Lebanon
. He was born on July 17, 1950 in Kfardebian, Lebanon, son of Toufic and Renee (nee Romanos) Salameh. He has received acclaim for his policies averting financial catastrophe in Lebanon
amid the Financial crisis of 2007–2010.
and graduated with a BA degree in Economics from the American University of Beirut
.
in Paris after a long career in their Beirut and Paris offices from 1973 - 1993.
On August 1, 1993 he was appointed Governor of the Central Bank
of Lebanon
for a six-year term and was reappointed for three further terms in 1999, 2005 and 2011. Governor Salameh manages all aspects of the Central Bank and is assisted by four vice-governors and the Central Council.
His primary function is to preserve the currency and maintain its stability in order to achieve sustained social and economic growth. He is also the Chairman of the Special Investigation Commission fighting money laundering since its establishment in 2001.
Jacques Chirac
; the 2003 Euromoney Award’s Man of the Year as the Best Central Bank Governor; the 2004 Shield Award from Bankers for a Better Future, an international academic banking organization, upon his selection as one of the best 20 Central Bank Governors in the world; the 2005 Euromoney Award for Emerging Markets
as the Best Central Bank Governor in the Middle East
and the 2006 Euromoney Award as the best Central Bank Governor in the world.
In 2009, The Banker Magazine
voted Governor Salameh Central Banker of the Year. He became the first Arab
central bank governor to ring the opening bell signaling the start of trading at the New York Stock Exchange. The American Lebanese Chamber of Commerce, NY Stock Exchange Euronext, Auerbach Grayson
, and The Bank of New York Mellon hosted what was known as "Lebanon Capital Market Day". This came obviously as a reward for Governor Salameh's achievements and strategic decisions through the global economic crisis, the governor was honored on March 2, 2009 at New York Stock Exchange by being invited to ring the starting bell that Monday morning.
Banque du Liban
Banque du Liban is the central bank of Lebanon. It was established on August 1, 1963 and became fully operational on April 1, 1964. It is currently headed by Riad Salameh, who was named the Middle East's best central bank governor by Euromoney in 2005....
. He was born on July 17, 1950 in Kfardebian, Lebanon, son of Toufic and Renee (nee Romanos) Salameh. He has received acclaim for his policies averting financial catastrophe in Lebanon
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...
amid the Financial crisis of 2007–2010.
Education
Salameh attended the Jesuits College of Collège Notre Dame de JamhourCollege Notre Dame de Jamhour
Collège Notre-Dame de Jamhour is a private French-language, Jesuit catholic educational institution set in Jamhour . Its campus is set in a pine forest, and includes Petit Collège, Grand collège, a church, and a recently built sports complex...
and graduated with a BA degree in Economics from 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...
.
Career
In 1985 he became the Vice-President and Financial Advisor at Merrill LynchMerrill Lynch
Merrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York...
in Paris after a long career in their Beirut and Paris offices from 1973 - 1993.
On August 1, 1993 he was appointed Governor of the Central Bank
Banque du Liban
Banque du Liban is the central bank of Lebanon. It was established on August 1, 1963 and became fully operational on April 1, 1964. It is currently headed by Riad Salameh, who was named the Middle East's best central bank governor by Euromoney in 2005....
of Lebanon
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...
for a six-year term and was reappointed for three further terms in 1999, 2005 and 2011. Governor Salameh manages all aspects of the Central Bank and is assisted by four vice-governors and the Central Council.
His primary function is to preserve the currency and maintain its stability in order to achieve sustained social and economic growth. He is also the Chairman of the Special Investigation Commission fighting money laundering since its establishment in 2001.
Awards & Appreciation
Governor Salameh received numerous awards including the 1996 Euromoney Award as the best Central Bank Governor in the Arab World; the 1997 Knight of the Legion of Honor bestowed on him by French PresidentPresident
A president is a leader of an organization, company, trade union, university, or country.Etymologically, a president is one who presides, who sits in leadership...
Jacques Chirac
Jacques Chirac
Jacques René Chirac is a French politician who served as President of France from 1995 to 2007. He previously served as Prime Minister of France from 1974 to 1976 and from 1986 to 1988 , and as Mayor of Paris from 1977 to 1995.After completing his studies of the DEA's degree at the...
; the 2003 Euromoney Award’s Man of the Year as the Best Central Bank Governor; the 2004 Shield Award from Bankers for a Better Future, an international academic banking organization, upon his selection as one of the best 20 Central Bank Governors in the world; the 2005 Euromoney Award for Emerging Markets
Emerging markets
Emerging markets are nations with social or business activity in the process of rapid growth and industrialization. Based on data from 2006, there are around 28 emerging markets in the world . The economies of China and India are considered to be the largest...
as the Best Central Bank Governor in the Middle East
Middle East
The Middle East is a region that encompasses Western Asia and Northern Africa. It is often used as a synonym for Near East, in opposition to Far East...
and the 2006 Euromoney Award as the best Central Bank Governor in the world.
In 2009, The Banker Magazine
The Banker
The Banker is an English-language monthly international financial affairs publication owned by The Financial Times Ltd. and edited in London...
voted Governor Salameh Central Banker of the Year. He became the first Arab
Arab
Arab people, also known as Arabs , are a panethnicity primarily living in the Arab world, which is located in Western Asia and North Africa. They are identified as such on one or more of genealogical, linguistic, or cultural grounds, with tribal affiliations, and intra-tribal relationships playing...
central bank governor to ring the opening bell signaling the start of trading at the New York Stock Exchange. The American Lebanese Chamber of Commerce, NY Stock Exchange Euronext, Auerbach Grayson
Auerbach Grayson
Auerbach Grayson & Co is a New York-based stockbroker that deals predominantly in the equity of non-US based companies, catering to institutional investors...
, and The Bank of New York Mellon hosted what was known as "Lebanon Capital Market Day". This came obviously as a reward for Governor Salameh's achievements and strategic decisions through the global economic crisis, the governor was honored on March 2, 2009 at New York Stock Exchange by being invited to ring the starting bell that Monday morning.