Lebanese PM Hassan Diab and previous Lebanese PM Najib Mikati. AFP/ EPA
Lebanese PM Hassan Diab and previous Lebanese PM Najib Mikati. AFP/ EPA
Lebanese PM Hassan Diab and previous Lebanese PM Najib Mikati. AFP/ EPA
Lebanese PM Hassan Diab and previous Lebanese PM Najib Mikati. AFP/ EPA

Lebanon’s last Hezbollah-backed Prime Minister was sworn in in 2011: what happened then?


Sunniva Rose
  • English
  • Arabic

With the backing of Hezbollah and its allies, Lebanese academic Hassan Diab was named on Thursday as the next prime minister of Lebanon.

His nomination came a day after caretaker prime minister Saad Hariri, who has strong connections to the west and the Gulf, again ruled himself out for the position.

Should Mr Diab manage to form a government – which he said he hopes will take no more than six weeks but, in the past, has taken months or years in Lebanon – it would be the first time since 2014 that Hezbollah has propelled a prime minister into power.

There is still the chance that he will fail to form a cabinet that will get the backing of parliament, especially if the parties who did not nominate him refuse to give him their vote.

Not only did Mr Diab fail to get the backing of Mr Hariri’s Future Movement; he did not secure an endorsement from any major Sunni figure, including former prime minister Najib Mikati. Mr Mikati headed the last government considered to be sympathetic to Hezbollah between 2011 and 2014.

Lebanon’s confessional power-sharing system dictates that the country’s prime minister must always be a Sunni Muslim and ideally, that he receives strong political support from his peers.

A 60-year-old professor of electrical engineering for the past 34 years at the prestigious American University of Beirut (AUB), Mr Diab has only served a short spell in politics,when he served as Education Minister for three years in Mr Mikati's government.

Mr Diab, like Mr Mikati, came to power after Mr Hariri.

In 2011, his government collapsed after ministers from Hezbollah and its allies walked out over tensions caused by the UN-backed tribunal investigating the 2005 assassination of Saad Hariri’s father, Rafik. The dramatic move came as Mr Hariri was meeting then US President Barack Obama.

This year, Saad Hariri quit on October 29, after 13 days of nation-wide anti-government protests spurred by the country’s worst economic crisis since the civil war ended in 1990.

But similarities between the period up to 2011 and now stop there, said Lebanese political analyst Imad Salamey.

Hezbollah’s grip on Lebanon’s Parliament and government has increased while the Future Movement is weaker, thanks to the results of the 2018 Parliamentary elections.

Mr Mikati was only elected thanks to the swing vote of the Progressive Socialist Party, which this time, did not back Mr Diab.

Unlike today, when politicians’ most pressing issue is solving the economic crisis, Mr Mikati’s difficulties were mostly linked to political and security problems as well as the wider regional situation.

Lebanon was rocked by a string of political assassinations targeting high-profile figures close to the Hariri family. The general state of insecurity, in addition to political infighting about a new electoral law, caused the 2013 Parliamentary elections to be pushed until 2018.

  • Fireworks are set off in front of police officers standing in postion behind riot shields during a protest at the Corniche al Mazzraa in Beirut, Lebanon. REUTERS
    Fireworks are set off in front of police officers standing in postion behind riot shields during a protest at the Corniche al Mazzraa in Beirut, Lebanon. REUTERS
  • Lebanese soldiers and security clash with supporters of outgoing prime minister Saad Hariri during a protest in the Corniche al-Mazraa neighbourhood in the capital Beirut. AFP
    Lebanese soldiers and security clash with supporters of outgoing prime minister Saad Hariri during a protest in the Corniche al-Mazraa neighbourhood in the capital Beirut. AFP
  • Demonstrators in action during a protest against the newly appointed Lebanese Prime Minister Hassan Diab, at Corniche Al-Mazraa neighborhood in Beirut, Lebanon. EPA
    Demonstrators in action during a protest against the newly appointed Lebanese Prime Minister Hassan Diab, at Corniche Al-Mazraa neighborhood in Beirut, Lebanon. EPA
  • A demonstrator reacts during a protest against the newly appointed Lebanese Prime Minister Hassan Diab, at Corniche Al-Mazraa neighborhood in Beirut, Lebanon. EPA
    A demonstrator reacts during a protest against the newly appointed Lebanese Prime Minister Hassan Diab, at Corniche Al-Mazraa neighborhood in Beirut, Lebanon. EPA
  • Demonstrators crowd around a stack of tires set on fire during a protest at the Corniche al Mazzraa in Beirut, Lebanon. REUTERS
    Demonstrators crowd around a stack of tires set on fire during a protest at the Corniche al Mazzraa in Beirut, Lebanon. REUTERS
  • An ambulance arrives on the scene of a protest against the newly appointed Lebanese prime Minister Hassan Diab, at Corniche Al-Mazraa neighborhood in Beirut, Lebanon. EPA
    An ambulance arrives on the scene of a protest against the newly appointed Lebanese prime Minister Hassan Diab, at Corniche Al-Mazraa neighborhood in Beirut, Lebanon. EPA
  • Newly assigned Lebanese Prime Minister Hassan Diab speaks to media after his meeting with Outgoing Prime Minister Saad Hariri at the Hariri house in Beirut, Lebanon. EPA
    Newly assigned Lebanese Prime Minister Hassan Diab speaks to media after his meeting with Outgoing Prime Minister Saad Hariri at the Hariri house in Beirut, Lebanon. EPA
  • In this photo released by Lebanon's official government photographer Dalati Nohra, Lebanese Prime Minister-designate Hassan Diab, left, meets with outgoing Prime Minister Saad Hariri, in Beirut, Lebanon. AP
    In this photo released by Lebanon's official government photographer Dalati Nohra, Lebanese Prime Minister-designate Hassan Diab, left, meets with outgoing Prime Minister Saad Hariri, in Beirut, Lebanon. AP
  • In this photo released by Lebanon's official government photographer Dalati Nohra, Lebanese Prime Minister-designate Hassan Diab, right, shakes hands with outgoing Prime Minister Saad Hariri, left, in Beirut, Lebanon. AP
    In this photo released by Lebanon's official government photographer Dalati Nohra, Lebanese Prime Minister-designate Hassan Diab, right, shakes hands with outgoing Prime Minister Saad Hariri, left, in Beirut, Lebanon. AP
  • Riot police in action during a protest against the newly appointed Lebanese Prime Minister Hassan Diab, at Corniche Al-Mazraa neighborhood in Beirut, Lebanon. EPA
    Riot police in action during a protest against the newly appointed Lebanese Prime Minister Hassan Diab, at Corniche Al-Mazraa neighborhood in Beirut, Lebanon. EPA
  • Demonstrators in action during a protest against the newly appointed Lebanese Prime Minister Hassan Diab, at Corniche Al-Mazraa neighborhood in Beirut, Lebanon. EPA
    Demonstrators in action during a protest against the newly appointed Lebanese Prime Minister Hassan Diab, at Corniche Al-Mazraa neighborhood in Beirut, Lebanon. EPA
  • A Lebanese policeman adjusts his gas mask during clashes with supporters of Lebanon's former Prime Minister Saad Hariri, who burned tires and closed a road in Beirut, Lebanon. AP Photo
    A Lebanese policeman adjusts his gas mask during clashes with supporters of Lebanon's former Prime Minister Saad Hariri, who burned tires and closed a road in Beirut, Lebanon. AP Photo

One of those killed was former finance minister Mohammad Chatah, a prominent Sunni Muslim politician. Mr Hariri implicitly accused Hezbollah of plotting his assassination. The group has always denied this, as well as any involvement in the death of Rafik Hariri.

Mr Chatah’s son, investment banker Omar Chatah, 35, believes that Mr Diab’s nomination this week is more controversial than political developments in 2011.

For him, Mr Diab’s lack of support from the Sunni Muslim community will only inflame sectarian tensions.

"I personally believe that Hassan Diab will not be able to form a cabinet," he told The National. "I think Hariri will be brought back some way, but these are dangerous political negotiations that risk inflaming sectarian tensions which go against the initial spirit of the protests."

To a certain extent, President Michel Aoun responded to protesters’ demands by nominating Mr Diab, who is a technocrat with little political experience.

However, Mr Chatah argued that what is problematic is that veteran politicians representing the country’s two other main sects, Shiite Muslim Parliament Speaker Nabih Berri and Maronite Christian president Aoun, remain in power, while Mr Hariri had to leave.

“Either all of them had to leave, or they needed to appoint an influential Sunni figure to head a technocratic government,” said Mr Chatah, echoing Mr Hariri’s arguments.

“Sunni Muslims feel that the president and Parliament speaker have not been touched by the revolution and here is this Sunni leader who is just parachuted in from one side. It just shows that the Sunni community is considered irrelevant.”

Protests and roadblocks erupted just hours after Mr Diab’s nomination in Sunni majority areas of Lebanon. Videos of men chanting their support for Mr Hariri circulated on social media.

Sectarian tensions between Sunni and Shiite Muslims were also a problem for Mr Mikati, pushing him to eventually resign, observed Mr Salamey. However, they were caused at the time by a spill-over of the civil war in Syria, which started in 2011.

“There was significant pressure against Mikati from the Sunni street. Additionally, the situation looked like it was swinging in favour of Hezbollah’s opponents because of the Syrian revolution,” said Mr Salamey.

The tide has since turned with Damascus, a major ally of Iran-backed Hezbollah, emerging victorious from the war.

In an interview with German broadcaster Deutsche Welle on Friday, Mr Diab firmly rejected claims that he would head a Hezbollah-friendly government, arguing that he would give priority to technocrats.

His comments line with the position of both Hezbollah and the Free Patriotic Movement, the party founded by the president. Both have said that there should be a mix of experts and politicians. But protesters on the street have made it clear that this will not do.

There are also concerns, in particular within the Future Movement and its supporters, that Mr Diab will be under the influence of groups such as the Free Patriotic Movement.

Mr Diab promised that he would form a government quickly, in "a period that does not exceed six week". That would be a feat. Mr Hariri took nine months to form the last government.

The Lebanese will hold him under close scrutiny to see if he delivers on his promises. As Mr Diab tweeted on November 3, long before his nomination: “do not listen to what they say, but watch what they do.”

The Penguin

Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz

Creator: Lauren LeFranc

Rating: 4/5

Scorebox

Sharjah Wanderers 20-25 Dubai Tigers (After extra-time)

Wanderers

Tries Gormley, Penalty

Cons Flaherty

Pens Flaherty 2

Tigers

Tries O’Donnell, Gibbons, Kelly

Cons Caldwell 2

Pens Caldwell, Cross

ETFs explained

Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.

ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.

There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.

Which honey takes your fancy?

Al Ghaf Honey

The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year

Sidr Honey

The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest

Samar Honey

The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments

MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar

The results of the first round are as follows:

Qais Saied (Independent): 18.4 per cent

Nabil Karoui (Qalb Tounes): 15.58 per cent

Abdelfattah Mourou (Ennahdha party): 12.88 per cent

Abdelkarim Zbidi (two-time defence minister backed by Nidaa Tounes party): 10.7 per cent

Youssef Chahed (former prime minister, leader of Long Live Tunisia): 7.3 per cent

RESULTS
%3Cp%3E%3Cstrong%3E9pm%3A%20Maiden%20(PA)%20Dh70%2C000%20(Dirt)%202%2C000m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Mubhir%20Al%20Ain%2C%20Antonio%20Fresu%20(jockey)%2C%20Ahmed%20Al%20Mehairbi%20(trainer)%3Cbr%3E%3Cstrong%3E9.30pm%3A%20Handicap%20(TB)%20Dh70%2C000%20(D)%202%2C000m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Exciting%20Days%2C%20Oscar%20Chavez%2C%20Doug%20Watson%3Cbr%3E%3Cstrong%3E10pm%3A%20Al%20Ain%20Cup%20%E2%80%93%20Prestige%20(PA)%20Dh100%2C000%20(D)%202%2C000m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Suny%20Du%20Loup%2C%20Marcelino%20Rodrigues%2C%20Hamad%20Al%20Marar%3Cbr%3E%3Cstrong%3E10.30pm%3A%20Maiden%20(PA)%20Dh70%2C000%20(D)%201%2C800m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Jafar%20Des%20Arnets%2C%20Oscar%20Chavez%2C%20Ahmed%20Al%20Mehairbi%3Cbr%3E%3Cstrong%3E11pm%3A%20Wathba%20Stallions%20Cup%20%E2%80%93%20Handicap%20(PA)%20Dh70%2C000%20(D)%201%2C600m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Taj%20Al%20Izz%2C%20Richard%20Mullen%2C%20Ibrahim%20Al%20Hadhrami%3Cbr%3E%3Cstrong%3E11.30pm%3A%20Maiden%20(PA)%20Dh70%2C000%20(D)%201%2C400m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Majdy%2C%20Antonio%20Fresu%2C%20Jean%20de%20Roualle%3Cbr%3E%3Cstrong%3E12am%3A%20Maiden%20(PA)%20Dh70%2C000%20(D)%201%2C400m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Hamloola%2C%20Sam%20Hitchcott%2C%20Salem%20Al%20Ketbi%3C%2Fp%3E%0A
The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
PREMIER LEAGUE TABLE

1 Man City    26   20   3   3   63   17   63 

2 Liverpool   25   17   6   2   64   20    57 

3 Chelsea      25   14   8  3   49   18    50 

4 Man Utd    26   13   7  6   44   34    46 

----------------------------------------

5 West Ham   26   12   6   8   45   34    42 

----------------------------------------

6 Arsenal      23  13   3   7   36   26   42 

7 Wolves       24  12   4   8   23   18   40 

8 Tottenham  23  12   4   8   31   31   39  

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EXare%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJanuary%2018%2C%202021%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EPadmini%20Gupta%2C%20Milind%20Singh%2C%20Mandeep%20Singh%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunds%20Raised%3A%20%3C%2Fstrong%3E%2410%20million%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E28%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Eundisclosed%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EMS%26amp%3BAD%20Ventures%2C%20Middle%20East%20Venture%20Partners%2C%20Astra%20Amco%2C%20the%20Dubai%20International%20Financial%20Centre%2C%20Fintech%20Fund%2C%20500%20Startups%2C%20Khwarizmi%20Ventures%2C%20and%20Phoenician%20Funds%3C%2Fp%3E%0A
Easter%20Sunday
%3Cp%3EDirector%3A%20Jay%20Chandrasekhar%3Cbr%3EStars%3A%20Jo%20Koy%2C%20Tia%20Carrere%2C%20Brandon%20Wardell%2C%20Lydia%20Gaston%3Cbr%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
Tomb%20Raider%20I%E2%80%93III%20Remastered
%3Cp%3EDeveloper%3A%20Aspyr%0D%3Cbr%3EPublisher%3A%20Aspyr%0D%3Cbr%3EConsole%3A%20Nintendo%20Switch%2C%20PlayStation%204%26amp%3B5%2C%20PC%20and%20Xbox%20series%20X%2FS%0D%3Cbr%3ERating%3A%203%2F5%3C%2Fp%3E%0A
The language of diplomacy in 1853

Treaty of Peace in Perpetuity Agreed Upon by the Chiefs of the Arabian Coast on Behalf of Themselves, Their Heirs and Successors Under the Mediation of the Resident of the Persian Gulf, 1853
(This treaty gave the region the name “Trucial States”.)


We, whose seals are hereunto affixed, Sheikh Sultan bin Suggar, Chief of Rassool-Kheimah, Sheikh Saeed bin Tahnoon, Chief of Aboo Dhebbee, Sheikh Saeed bin Buyte, Chief of Debay, Sheikh Hamid bin Rashed, Chief of Ejman, Sheikh Abdoola bin Rashed, Chief of Umm-ool-Keiweyn, having experienced for a series of years the benefits and advantages resulting from a maritime truce contracted amongst ourselves under the mediation of the Resident in the Persian Gulf and renewed from time to time up to the present period, and being fully impressed, therefore, with a sense of evil consequence formerly arising, from the prosecution of our feuds at sea, whereby our subjects and dependants were prevented from carrying on the pearl fishery in security, and were exposed to interruption and molestation when passing on their lawful occasions, accordingly, we, as aforesaid have determined, for ourselves, our heirs and successors, to conclude together a lasting and inviolable peace from this time forth in perpetuity.

Taken from Britain and Saudi Arabia, 1925-1939: the Imperial Oasis, by Clive Leatherdale

Strait of Hormuz

Fujairah is a crucial hub for fuel storage and is just outside the Strait of Hormuz, a vital shipping route linking Middle East oil producers to markets in Asia, Europe, North America and beyond.

The strait is 33 km wide at its narrowest point, but the shipping lane is just three km wide in either direction. Almost a fifth of oil consumed across the world passes through the strait.

Iran has repeatedly threatened to close the strait, a move that would risk inviting geopolitical and economic turmoil.

Last month, Iran issued a new warning that it would block the strait, if it was prevented from using the waterway following a US decision to end exemptions from sanctions for major Iranian oil importers.

COMPANY PROFILE

Name: Rain Management

Year started: 2017

Based: Bahrain

Employees: 100-120

Amount raised: $2.5m from BitMex Ventures and Blockwater. Another $6m raised from MEVP, Coinbase, Vision Ventures, CMT, Jimco and DIFC Fintech Fund

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

While you're here
Tips on buying property during a pandemic

Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.

While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.

While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar. 

Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.

Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.

Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities. 

Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong. 

Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.

List of alleged parties
  • May 15 2020: Boris Johnson is said to have attended a Downing Street pizza party
  • 27 Nov 2020: PM gives speech at leaving do for his staff
  • Dec 10 2020: Staff party held by then-education secretary Gavin Williamson 
  • Dec 13 2020: Mr Johnson and his then-fiancee Carrie Symonds throw a flat party
  • Dec 14 2020: Shaun Bailey holds staff party at Conservative Party headquarters 
  • Dec 15 2020: PM takes part in a staff quiz
  • Dec 18 2020: Downing Street Christmas party 
What is tokenisation?

Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets.