The impact of Money Laundering on the Middle East Market according to Tony Abi Saab

Before discussing the impact of money laundering, let us define the process by which the illegal origins of assets acquired or produced by criminal activities are covered to hide the link between the funds and the criminal behavior.

Money laundering has disastrous consequences related to the economy, society, and corporate reputation. Meanwhile, the funds are often a result of bribery, drugs smuggling, human trafficking, illegal arms trade and terrorism funding.

Corruption and trade mispricing, provide examples of how certain procedures and systems facilitate the flow of illegal funds.

Since the term Money Laundering is overused in Lebanon, the Middle East and the Gulf countries and as a managing partner of a Lebanese company that has connections in the Middle east and European market, we emphasis on due diligence and investigate on who we are dealing with before closing any deal or signing any contract.

In the fight against Money Laundering, banks and the public sector are investing to improve data collection and analysis by integrating new digital infrastructure and upgrading the systems to improve efficiency.

The world needs business to step up and reclaim its higher purpose

Tony Abi Saab has already set his 10 years sustainable development goals, how about you? Should a company’s responsibility begin and end with shareholders, or extend to customers, communities, and the environment? While hardly an original question, last year saw a renewed focus on debate around the purpose of business — and with sustainability already in the January headlines, from fires in Australia to new figures on climate change, expect it to be a major topic for business leaders in 2020. We now have just 10 years to achieve the Sustainable Development Goals (SDGs), the UN-designated blue-print of a sustainable future. Fortunately, business is ready to embrace the challenge. According to HSBC’s Navigator research, 75 per cent of UK businesses recognise their role in achieving the SDGs — higher than any other European country, and significantly above the global average of 63 per cent. This matters, because the world needs the business community’s help. Global progress ...

The reasons why.

For the last two years Brescia Middle East has been awarded several government contracts in Lebanon and successfully executed all of them. This fact became a threat to competition that decided to launch a defamation campaign hoping that such an attempt will destabilize us and that our partnerships will be broken due to fabricated stories that are being published online. They chose to criminalize us for their commercial gain however such a cheap attempt is not uncommon in fact many rising companies, business man and politicians have faced such an obstacle when they started to get noticed and competition felt threatened , but none of the cases went unpunished and our case will not be any diffrerent. Tony abi saab

Five Tips to Survive an Economic Crisis | Hoyes Michalos

Every week our team meets with people across Ontario who are experiencing debt problems . We hear first hand stories about how hard it is to remain financially afloat when you are living paycheque to paycheque. Here’s what we’re hearing: I am unable to get a reasonably priced loan for a car; I can’t buy a home because I can’t save the down payment; I no longer work overtime so can’t meet my bill payments anymore; I lost my job, can’t pay my bills , and may lose our home. I meet many people who are on “work share”, where they work two or three days a week, and draw unemployment insurance during their down time. I meet with people carrying two and three jobs in order to stay ahead. For years we have been using our homes as an ATM machine. We would build up credit card debt , then re-mortgage our home to pay it off. We even saw one couple that did it five times in five years. They tried one last time, and the bank said “no”. Their incomes had fallen, and their house w...

Tony Abi Saab

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