Riad Salameh

Riad Salameh is the governor of the Central Bank of Lebanon. He was born on July 17, 1950 in Kfardebian, Lebanon, son of Toufic and Renee (nee Romanos) Salameh. He has received acclaim for his policies averting financial catastrophe in Lebanon amid the Financial crisis of 2007–2010.

Education

Salameh attended the Jesuits College of Collège Notre Dame de Jamhour and graduated with a BA degree in Economics from the American University of Beirut.

Career

In 1985 he became the Vice-President and Financial Advisor at Merrill Lynch in Paris after a long career in their Beirut and Paris offices from 1973 - 1993:

• 1973-1976 Merrill Lynch, Beirut- Lebanon
• 1976-1978 Merrill Lynch, Paris- France
• 1978-1985 Merrill Lynch, Beirut- Lebanon
• 1985-1993 Merrill Lynch, Paris- France, Vice-President and Financial Advisor

On August 1, 1993 he was appointed Governor of the Central Bank of Lebanon for a six-year term and was reappointed for three further terms in 1999, 2005 and 2011. Governor Salameh manages all aspects of the Central Bank and is assisted by four vice-governors and the Central Council. He is entrusted with the Enforcement of the Code of Money and Credit and Central Council resolutions. His primary function is to preserve the currency and maintain its stability in order to achieve sustained social and economic growth.

He is also:

• chairman of the Special Investigation Commission fighting money laundering since its establishment in 2001
• member of the board of governors in the International Monetary Fund (IMF)
• member of the board of governors in the Arab Monetary Fund (AMF)
• chairman of the Higher Banking Commission
• chairman of the Capital Markets Authority

Awards & Appreciation

Governor Salameh received numerous awards including:

• "Best Central Bank Governor" in the Arab World for 1996 – Euromoney Award
• "Knight of the Legion of Honor" bestowed on him by the French President in 1997
• "Best Central Bank Governor" for 2003 (Man of the Year) – Euromoney Award
• Shield Award from "Bankers for a Better Future", an international academic banking organization, upon his selection as one of the best 20 Central Bank Governors in the world for 2004
• "Best Central Bank Governor" in the Middle East for 2005 – Euromoney Award for Emerging Markets
• "Best Central Bank Governor in the world" for 2006 - Euromoney Award
• "Best Achievement Award" in 2007 from the Arab Bankers Association of North America (ABANA) to the Lebanese banking system represented by H.E. Governor Riad Salamé
• The 2008 banking leadership award from World Union of Arab Bankers
• "Best Central Bank Governor in the Middle East" for 2008, voted by the Banker Magazine
• The first Arab Central Bank Governor honored at the New York Stock Exchange by being invited to ring the opening bell in March 2009
• Doctorate Honoris Causa by the Lebanese American University of Beirut in July 2009
• "Central Banker of the Year"/Middle East for 2009, voted by The Banker Magazine
• "Arab Creativity" Award in Economics 2009, presented by his Royal Highness Prince Khaled El Faisal chairman of the Arab Thought Foundation
• Officer of the Legion of Honor - bestowed upon him by the French president on December 31, 2009
• Doctorate Honoris Causa by the Lebanese University in May 2010
• "Man of the year" Award from the International Chamber of Commerce –Lebanon in September 2010
• "Excellence in Financial Leadership" Award from the Lebanese International Business Council in October 2010
• The key of the city of Detroit from Dearborn Mayor in October 2010
• "Best Central Banker" Award 2011 from Global Finance
• "Best Central Bank Governor in the Middle East" for 2012, voted by the Banker Magazine

References

• "Banque du Liban - Biography of Governor"
• "Riad Salameh Rings the Opening Bell at New York Stock Exchange"