They are more at ease, their number is higher than the locals: some banks in the Cedar Land are recently interested a lot in the Lebanese expatriates. In fact, those banks offer them specific loans that could serve to buy houses in Lebanon. These new products allow banks to win new clients abroad, clients that are often more demanding than the local ones. The Lebanese banks consider this fact as a real challenge because the expatriate business is more and more aggressive.

Three questions to Jihane Souaid, Head of Sales at the Lebanese Canadian Bank.

iloubnan.info: When did you launch the expatriate loan product?
Jihane Souaid: Three years ago. During that time, we witnessed a strong wave of emigration to the Gulf countries, especially to the United Arab Emirates and Qatar, a fact that was confirmed after the July 2006 war. In terms of Loans, the Lebanese local market is quite restricted; therefore, it was normal to search for other outlets, and the Diaspora is a very interesting target. We are seeking to get in touch with the Lebanese people abroad to raise their awareness about our product. We apply to all the Lebanese Diaspora, especially to people who live in the Gulf area (like Saudi Arabia, Emirates, and Qatar), and in the West (like Europe, Canada…). Until now, the total amount of loans given to expatriates since three years is of several million dollars.

What kind of loans do you offer to Lebanese people living abroad?
Real estate loans, car loans, and personal loans (to furnish the house for example). The most requested loan is the real estate loan. The demand is reaching its peak nowadays: real estate is increasing, and clients know that, that’s why they want to buy before the prices become unaffordable.

What is the typical profile of the clients who ask for these expatriate loans? Do they have a specific behavior to which the bank should adapt?
They belong to middle and high classes that earn a minimum of 2.700 dollars. They are mainly people who just got married. In general, those clients are certainly more demanding and more professional than those who live in Lebanon. They are used to western methods. Therefore, their service should be excellent and refined. We are facing a more and more rude competition. If the client is not satisfied, he is always free to change the bank and work with another one. For us, this is a big challenge!