John K. Defterios, Anchor and Emerging Markets Editor, CNN International speaks during the 2012 of the World Economic Forum at the congress centre in Davos, Switzerland, January 27, 2012. (Wikipedia/Michael Wuertenberg)
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The circular includes bank guarantees of up to 70 percent for the money loaned out and a revenue share on profits over time for the Central Bank.The idea is to tap educated local talent and encourage the global Lebanese diaspora – estimated at four times the population of Lebanon itself – to bring home their hard-earned capital from abroad.Because of the [Central Bank] fund and because of the incubator programs that are here, we got a lot of support and encouragement to start the idea," said Jureidini, a former advertising executive who embraced his friend Karl's enthusiasm for Sqwirl.The startup now has 10 full-time employees and three part-time engineers providing back-end support for their business to consumer or B-to-C company. Like other C-Suite executives at his level, Abou Saab worked abroad but unlike most of his peers he thought it was the right time to come home and assist in an effort to keep upcoming talent on Lebanese soil.Regionwide one out of four youth is without a job and a total of 73 million people are looking for work.
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