International lenders did not disclose specificities, but said it was part of global cost-cutting plansNovember 26, 2015 11:32
‘Toot, toot’ a moot point for Lebanese cabbies
Bank of Beirut’s personal loan aimed exclusively at taxi drivers sparks nothing but more honking.
March 9, 2010 5:20 by kippreport
Is there finally some good news for Lebanese taxi drivers?
Cabbies are known to share their worries with anyone who will listen. It sometimes feels like it would take a miracle to put a smile on their face.
Could that miracle have arrived? Earlier this week, Bank of Beirut announced that it is launching a new loan for taxi drivers, known as the “toot toot” loan.
The “especially targeted loans” give drivers the chance to buy a new or used taxi, according to Isabelle Naoum, the bank’s head of communications.
“Bank of Beirut’s loans and services always convey the bank’s responsibility towards the society where it operates, and this is the case of the taxi loan, which grants new job opportunities and helps protect the environment by curbing pollution,” she said.
Kipp hit the streets of Beirut to find out whether this ‘socially responsible’ initiative could result in smiles. Could a loan aimed exclusively at taxi drivers ever prompt a lull in the honking, and the complaints about ever rising gasoline prices?
Not so. Most of the taxi drivers we spoke to were doubtful: “Who is going to benefit from it?,” asked one.
No smiles, then. Would only a cynic suggest that the Bank of Beirut’s initiative is purely down to making money in any way possible?