POLITICS & INSTITUTIONS - ECONOMY

New business association seeks to foster relations with Arab world



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Library picture: Fouad Rathle, head of Luxembourg Arab Business Association, is seen in a portrait taken for Delano’s April 2011 print edition 

The Luxembourg Arab Business Association has started operations. It is led by Foaud Rathle, former managing director of Garanti Bank Luxembourg and former president of the banking training institute IFBL (now known as The Institute). Its goal is to create a platform where Luxembourg professionals engaged in, or who would like to become engaged in, business activities with the Arab world can meet and network.

In a recent interview with Delano, Rathle explained his motivation for setting up the new association, which was officially formed on Tuesday 19 April 2018. “I have wanted to set up something like this for years now,” he said. “There have been many Arab professionals working in Luxembourg for a long time, but they don’t know each other, and I wanted to create a platform where they could meet and network.”

Rathle explained that LABA is:

“An association of business men and women that is solely concerned with economic and business issues. It is totally apolitical and has no religious concerns. We will operate the best practices of European governance and aim for social progress, such as gender parity.”

The association’s current membership comes from various Arab countries, as well as other countries interested in dealing with the Arab world. Its founders come from Syria, Lebanon, Egypt, Morocco, Tunisia, Algeria, Luxembourg, France and Belgium. In terms of professional activity, they include economists, bankers, lawyers, accountants, entrepreneurs, industrialists, scientists and professors--all employed or established in the grand duchy.

“We aim to promote the development of links in business, as well as finance and science, and help our members to promote their products and services to potential clients and investors. Finally, we will also strive to foster bilateral relations between Luxembourg and the Arab world,” said Rathle. 

For further information: [email protected]