GLOBAL CONNECTIONS: the Near/Middle East
1966: A banking crisis hits Beirut and temporarily slows Lebanon's vibrant economy.

A commercial banking crisis slows the go-go banking industry of Beirut, which at mid-century had been the repository of choice for oil money from Saudi Arabia and the Gulf states. Beirut, the "Switzerland of the Middle East," was also a favored destination of the European and American elite. After the banking crisis settles, the Lebanese economy will be strong again until the civil war in 1975.

WWW Banking and Finance in Lebanon

History of domestic banking in Lebanon