The financial involvement of the Lebanese banking sector in corporate social responsibility

Abstract

International audienceWith its well adapted management and the guidance of the country's central bank, the Lebanese banks managed to cross over the 2008 financial crisis with an insignificant amount of damage. Due to the social, geographic and political environment, financial firms in this country have applied a special understanding of social responsibility that has demonstrated to be of an extreme significance for the society they serve. We will explain the way the Lebanese banking sector is involved in corporate social responsibility taking into consideration the environment it has managed to evolve in and to earn a kind of resiliency versus the crises. Social and positioning effects managed to statistically prove many widely known influencers to have small manipulations over CSR in Lebanon such as gender diversity, foreign nationals and even non-executive directors. Only the biggest Lebanese financial firms appear to take interest in CSR review publications at the momen

Collaborative Research for Excellence in Economics and Social Sciences

“…Researchers demonstrated a favourable link among company's behaviour and corporate social responsibility (Deckop, Merriman & Gupta, 2006). Corporate social responsibilities are activities driven by firms and concerned by their scope of business (Salloum, 2015).…”

“…Supported by the Lebanese central bank, Lebanese commercial banks perform a variety of corporate social responsibility activities. In 2006, Byblos Bank financed the reconstruction of several bridges in Beirut; Beirut marathon is financially supported by BLOM Bank on a yearly basis; Audi Bank and KUNHADI signed an agreement promoting responsibility in driving and road safety; the cultivation of Cedar trees in all Lebanese regions is a project funded by MED Bank (Salloum, 2015). Currently, publications and news play a leading role in spreading the culture of corporate social responsibility.…”

Effect of social responsibility and service quality on customer loyalty: the mediating role of perceived benefits and satisfaction

“…Sen and Bhattacharya (2001) believed that impact of CSR on purchase intention is stronger as greater is the customer's support to social causes in which the organisation invests. Salloum et al (2015) showed that social and positioning effects managed to statistically prove many widely known influencers to have small manipulations over CSR in Lebanon such as gender diversity, foreign nationals and even non-executive directors. According to a recent work, male directors concentrated on the economic issues in an organisation far more than female director do.…”

Financial Literacy, Financial Behaviors, and Financial Crises: The Case of Lebanon

“…It's also noteworthy to say that Lebanon's financial sector was regarded as one the best in the region prior to the crises. It had a very wealthy banking sector which was well-known for its high liquidity, mostly due to its maintenance of a good banking client secrecy law (Salloum et al, 2015). In addition, the Lebanese banking sector was topping the list for bank branch penetration in the Middle East and North Africa (MENA) region (Lyons and Kass-Hanna, 2018).…”