The Genius from Jerusalem

Who Killed Youssef Beidas? The Founder & Chairman of Intra Bank.

Was Intra Bank's fall an introduction to the failure of the Lebanese Banking System? An article for Magda Abu-Fadil in HuffPost has drawn my insights into the economic complexities of Lebanon. Behind the scenes, it was mind-blowing to discover that the idea behind the Silos at Beirut Port was his notion. This was quoted by his son Marwan to The National News . So, is Mr. Beidas a Legend or a Scammer? And, what justifies the selective position of the ruling elite in highlighting the evil side of this financial empire?

Half a century after the legitimate destruction of the Lebanese power at the forefront of the Arab World in financial markets, Beidas was the Anglophilic decision maker that erupted the club deals of the French ruling elite. Indeed, this stands for his worst fault. Press critics further justify the collapse of the state entitlement in impeding Beidas' control of the Lebanese market share. Out of every media hypocrite in Lebanon, you will get the scoop of the raison d'être in an article in the Illustrated London News in October 1963 that described Mr. Yousef Beidas as the Architect of Lebanese Banking.

Two pages entitled this legend in the article "The Changing Face of the Middle East."         

This is just a thankfulness Letter for the supporters of the previous President of Lebanon, Charles Helou's direct role in weakening the bank's liquidity during the worst political crises in the Middle East and during the early years of the establishment of the Lebanese Central Bank, on August 1, 1963. I'm held accountable for claiming that it's the first failure of our Lebanese Central Bank. Why did that happen? I can't doubt like other commentators who attributed the reason to envy of the far-right politicians over the Palestinian-born Beidas.

Unhappy by the hateful truth, I have discovered a memoir sent by the Leader Mr. Kamal Jumblatt to Ms. Widad Biedas on 5 December 1968. In summary, he referred to his intentional failure as a political conspiracy and described him as Lebanon's last resort to establish an international investment bank. This was quoted by Dr. Kamal Dib in his well-known book. Thanks again to all the supporters of their far-right representative to Lebanon.

Now ask the Qataris, Kuwaitis, Middle East Airlines - Air Liban and Casino Du Liban for the secrets. In 1985, the Central Bank held 28% of Intra, the Kuwaiti government 19%, the National Bank of Kuwait held 4%, and the government of Qatar held 3%. To make the story sweeter, part of Intra Bank's empire included Middle East Airlines,?(Lebanon's national carrier); Phoenicia Hotel; the?Casino du Liban, a gambling and entertainment magnet for Arab and foreign big spenders; and?Studio Baalbeck, a sound recording and movie production enterprise that promoted Lebanon, and the region's singing and acting stars. The last regret is his dream to turn Beirut into the Holywood East. He even bought into Warner Bros. Entertainment. This topic makes me insane!

Can someone imagine the short sight of our Lebanese politicians?

False rumors back then caused the Bank Run and Western interests have sold him out. Two years after the collapse kept in self-exile in Switzerland, Beidas left a legacy that will never be replicated. A bank that had owned prime real estate on New York's Fifth Avenue alongside Rockefeller Group , and other world money centers. How can that be possible if he was not a "Palestinian?" How can that be possible if he was not a "Palestinian?"

How can that be possible if he was not a "Palestinian?"        

Please remember the date of October 14, 1966. The date of the collapse of the Lebanese Financial Empire was deepened in modern politics and economic dynamics of the Lebanon financial hub in the seventies. A bank that was valued between 350 million and 500 million dollars. Oh, my Lord! What is your excuse now? Don't tell me PLO and petrodollars that left the bank with 330,000 dollars at the end on their shelves. Beidas offered his last appeal to personally guarantee the bank’s operations to the Lebanese cabinet and central bank for support, but he was rebuffed.

Since the seventies, we have been counting non-stop financial losses in our system. Palestinians are facing now genocide, and I felt the need to cite the fact behind a genius man who acknowledged Lebanese as hard-working civilized citizens.

Thanks to Ms. Widad Beidas the previous manager of Barclays in Jerusalem and her husband for being part of our financial existence. In the end, Lebanon could not avoid responsibility for slaughtering the greatest glory of our Lebanese Economy.

And I always attach myself to my purpose; Work hard until your idols become your followers.

.

.

.

I'm?Khodor Shamieh - ??? ???????, a part-time writer who uses LinkedIn to reflect on his opinion on brain teaser content and technical research and advocate for impact. Support me to finish my best-selling book on Sell on Amazon . It's a dream and I need every type of support to make this happen.

IT'S A CONTROVERSIAL TOPIC AND I WOULD LIKE TO THANK YOU FOR YOUR READING, SHARING, COMMENTS, AND SUPPORT.