This is a great time for Lebanon, as its politics stabilise, the Lord Mayor of London, Alderman Nick Anstee, told delegates attending the ABA's Lebanese Banking Day symposium at Mansion House, 10 November 2010.

The Lord Mayor praised the ABA for organising the event, which he supported. "My thanks

to all the speakers and an especial thank you to (ABA CEO) George Kanaan for his skill and vision in organising it," he said.

He said "the City remains a world leading international financial centre. But it is world-leading in a changing environment. And its international reach is its great strength. Over 600 foreign companies are listed on the London Stock Exchange. Over 250 foreign banks are based in London. Why are they here? Because of what London offers. Its structural strengths are clear: It benefits from the hub and cluster effects of being a world leading centre for financial and professional services; Language; Time zone; The UK’s transparent, adaptable and predictable legal system; The diversity of London’s markets – equities, bonds, derivatives, insurance, commodities, maritime – and of associated services, many of which are less affected by the crisis in banking and credit; London’s instinctive internationalism, strong skills base and openness to global talent and global business (including Islamic Finance and Sovereign Wealth Funds); London’s position as the financial services gateway

to the European Single Market."

The unique mix of high quality services offered by the City are there for Lebanon, he said.

The City of London already has excellent links with financial services institutions in the Middle East, he said, and "Lebanon is a country with which the City can work far

more closely."

With three Lebanese banks in London and a fourth on the way the opportunities are clear, the Lord Mayor indicated.

"And this is a great time for Lebanon, as its politics stabilise." He hailed the Lebanese Banking Day as "an important opportunity to think through the opportunities available to Lebanese banks -- how they can best access the City’s services and how much scope there is to boost trade between our two countries."

Gala Evening Highlights

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Lebanese Day Symposium [Partial Highlights, more to be included]

• Riad Salamé
• The Lord Mayor
• Joseph Torbey
• Saad Azhari
• Lady Olga Maitland
• Usama Mikdashi

Download and read the full text of Alderman Nick Anstee's address to delegates at the ABA's Lebanese Day symposium