Fransabank, represented by Mrs. May Jabbour Rihan, Head of the Marketing Research Department, was the only Bank in Lebanon which attended the Inaugural Business for Peace (B4P) Annual Event held in Istanbul on the 29^th and 30^th of September 2014.

 Recognizing that business cannot thrive in societies that fail, and that peace and stability provide a key foundation for economic development, UN Global Compact, a year ago, launched the Business for Peace  platform which aims to expand and deepen private sector action in support of peace - in the workplace, marketplace and local communities.

This year, the event in Istanbul focused on bringing forward the unique insights needed to move the private sector’s contribution to peace towards transformational impact.  The main objectives were to assist companies in implementing responsible business practices aligned with the Global Compact ten principles in conflict-affected and high-risk areas and catalyze action to advance peace. Over 150 participants attended the event with more than 20 companies joining the platform. 

In addition to Fransabank’s full membership in the United Nations Global Compact (UNGC) which was formalized in November 2013, becoming thus the first Bank in Lebanon to be a participant in the UNGC, Fransabank is also the first Bank in Lebanon which signed the Business for Peace Statement of Support as of July 10, 2014. On this occasion, Chairman Kassar commented: “We, at Fransabank, are committed to implement responsible business practices and to play a constructive role in fostering development, stability and peace in the communities where we operate.” It’s worth noting that in May 2014, Chairman Kassar was awarded as a Business for Peace Honoree in Oslo, which made him the First Lebanese Business Leader to receive this highest form of recognition due to his ceaseless dedication and endeavors for promoting the peace process in Lebanon and in the Arab World. 

Accordingly, and in the first session of (B4P) Annual Event in Istanbul, on a roundtable, Mrs. Rihan discussed Chairman Adnan Kassar’s call for peace and stability as being preconditions for business development and human prosperity. As quoted: “That is why at Fransabank, we hold great importance to the UN Global Compact principles and to safeguarding labor and human rights, halting corruption, as well as boosting the economy, which would ultimately lead to peace.” Mrs. Rihan, in the second session, was a lead discussant on the theme of “How the financial and investment sectors can maximize long-term financial performance while making a positive contribution to peace and development in high-risk/conflict-affected areas of the world” and her discussion revolved around Fransabank’s endeavors in this regard.