Empowering consumers to take charge of their financial futures

 
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Financial Literacy Program
Byblos Bank’s Financial Literacy Program continues a commitment to our customers and the communities we serve that goes back decades. Consistent with our strong corporate values and high standards of business ethics, the Program goes far beyond “mere” compliance with Banque du Liban regulations on ensuring that customers are financially aware and have a good understanding of their rights and responsibilities (Basic Circular no. 134). Indeed, our goal is nothing less than to increase financial awareness among the entire Lebanese population, not just those who do business with us.
Why Financial Literacy?
The need is clear – as is the opportunity. According to a recent study by the Basil Fuleihan Institute, some 69% of Lebanese are unaware that the National Social Security Fund does not offer retirement plans, 32% have not even considered establishing plans of their own, 47% have no savings at all and do not set down a monthly budget, and 50% don’t know how much they’ve spent in the past week.

These alarming indicators expose a gap in financial education in Lebanon, demonstrating the need to raise knowledge and awareness levels so that consumers become better-equipped to make informed financial decisions, including identifying – and/or demanding – credit, savings, and investment vehicles that suit their needs and budgets.

By enabling more people to shape their own financial destinies and contribute to the economy as a whole, we at Byblos Bank gain not just the moral satisfaction of having done the right thing, but also the sense of accomplishment at having served all our stakeholders by growing the size and potential of our own markets.
“Fakker Maliyan” (or “Think Financially”)
This daily two-minute program on LBCI, one of Lebanon’s leading television stations,  helps viewers understand basic topics and concepts, how banking and other financial products work, and what they need to know to get the most out of a bank. The ultimate goal is to give viewers the knowledge they need to help them manage their finances in a way that serves both their personal interests and the common good.
“Nes W Finance” (or “People and Finance”)
This initiative consists of a weekly article or infographic in Al-Akhbar, one of Lebanon’s most widely read newspapers. It offers insight and analysis into everything from budgeting and investment products to broader economic issues that can impact a reader’s personal finances. Written in an engaging and accessible style and citing case studies from around the world, “Nes W Finance” aims to reach as many people as possible with information they can use – today – to start improving their financial situation.     
MONEYSMART Boot Camps

Byblos Bank also is taking its message of Financial Literacy directly to Lebanese youth by sponsoring MONEYSMART Boot Camps for participants aged 20-25 and from all parts of Lebanon. By providing and interpreting information about the fundamentals of a healthy money cycle – from earning and spending to saving, borrowing, and investing – we want to help them make better-informed decisions on how to manage their finances.

Designed by Eventa, these camps feature specialized experts to help young people understand the long-term impact of the choices they make today. In addition, our own Financial Literacy Ambassadors, chosen among Byblos Bank employees aged 25-30, will take part as assistant trainers.

The first round of MONEYSMART camps will take place in the coming months as per the schedule below:

Beirut

15-17 June 2017

South (Saida)

6-8 July 2017

Bekaa (Zahleh)

13-15 July 2017

Only 100 spots are reserved for each section, so be sure to book yours as soon as possible by registering online here.

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