Insurance companies play a major role in the economy. However, the year 2014 was a challenging one for Lebanon due to the political and economic situation that impacted the entire region, and also because of the tough competition. Nevertheless, there are two positive facts that stand out.

As one of Qatar's leading financial services institution, Doha Bank has been consistently registering strong growth during the last decade in terms of asset growth, loan growth, deposit growth and increase in shareholders’ value.

Bahous brings diverse insurance experience from reinsurance to retail. He possesses a great talent in integrating big and small businesses to positive effect; and he has also an entrepreneurial style that puts empowerment and quick decision-making at the right time in highly chaotic environments.

BUSINESS LIFE conducted an interview with Engineer Saleh Bin Rashed Al Dhaheri, Chairman of the Executive Council of the GCC  Insurance Federation (GIF) and Chairman of the Emirates Insurance Association (EIA) and member of the Board of Directors of Al Dhafra Insurance Company.

Sheikh Nasser Bin Ali Bin Saud Al-Thani is the Chairman and Managing Director of Qatar General Insurance & Reinsurance Company. He is a distinguished leader in the business community with almost 30 years experience in the area of insurance, investments, banking, real estate and general contracting. An innovator and strategic thinker, Sheikh Nasser has a notable track record in high level management.

Islamic banking refers to a system of banking or banking activity that is consistent with the principles of the Shari'ah (Islamic rulings) and its practical application and guided by Islamic economics. And when you refer to Islamic banking, Al Baraka Banking Group shines as the leader in this buoyant industry.

The global insurance and reinsurance market is facing a series of unique challenges. Reinsurance insurance has always been an opaque market and its culture relies on trust built between cedent companies and their reinsurers in the framework of a long-term relationship.

BL: If the economic situation with increasing inflation is affecting the repayment of loans, why don’t banks consider loan rescheduling before moving to courts of law?

The Arab Spring has brought down regimes in some Arab countries. Following the Arab Spring, the countries of the Middle East have entered an era of regional insecurity that might make long term and sustained investment look favorable. Eventually, international insurers and reinsurers have shown keen interest to enter the MENA region and for example open branches at Dubai international financial center because they found a lucrative market full of opportunities.

AL MASHREK insurance & reinsurance SAL is well known as one of the leading insurance companies in the Levant and North Africa for its presence and service for the past 35 years; it made many more achievements by expanding its presence to important destinations and recently it will inaugurate its new company in Egypt.

Dr. Ezzedine Khoja, Chief Executive Officer of Zitouna Bank is a recognized leader in Islamic Finance whereby he spoke passionately to BUSINESS LIFE about the development of Islamic Finance in Tunisia with particular importance to the internationalization of Islamic Finance and stating that the Islamic Finance industry growth will go on double digit in 2014.

Omar Souhail Bilani is a Lebanese native with a master’s degree in business administration. During his more than 35 years in the insurance industry, he's amassed an enviable track record of developing insurance companies into exceptional performing entities.