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Women on Top in Tech – Rosemary Romanos, Co-Founder/CEO of SunRay Energy

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(Women on Top in Tech is a series about Women Founders, CEOs, and Leaders in technology. It aims to amplify and bring to the fore diversity in leadership in technology.)

Here is our interview with Rosemary Romanos, a Lebanese entrepreneur, who offers rural communities in Lebanon a capital-free electrification program. Rosemary is the CEO and Co-Founder of SunRay Energy.


What makes you do what you do?

Passion and love for my country is what makes me do what I do. I work my heart out to lift up my country! Seeing Lebanon on the map of the world as developed and advanced country is what I aspire to see. Hence, solving the electricity crisis by adopting cutting-edge renewable energy solutions and innovative micro-financing mechanisms are for me like killing 2 birds within 1 stone.

How did you rise in the industry you are in?

I re-entered this industry after having completed my electrical and computer engineering degree when my current co-founder asked me to work with him. My inherent inquisitive nature to explore knowledge made me stick with this industry. Today, my persistence and conviction are paying off.

Why did you take on this role/start this startup especially since this is perhaps a stretch or challenge for you (or viewed as one since you are not the usual leadership demographics)?

Being an entrepreneur has always been a dream of mine. It takes a lot of courage to not only start your own company but also be a woman doing that in Lebanon. I dream of a better world, lead a team of highly motivated young individuals, and develop a solution for energy efficiency. That’s the fuel that keeps me going.

Do you have a mentor that you look up to in your industries or did you look for one or how did that work?

Initially, when my current partner asked me to work with him, he was my mentor because he supported with first my entrepreneurial route and also helped me understand the technical challenges in the renewable energy industry because he has been previously working on it.

Also, I tried looking for other mentors and more specifically successful women in business who had created and led successful businesses in Lebanon. I was very lucky to find 2 of them, Miss Samar Layoun and Miss Ryme Assaad who were very excited to mentor me, support me and help me out.

How did you make a match and how did you end up being mentored by him?

I met Samar when I applied to the Blessing Foundation mentoring program. One of their programs is to match women mentor with another woman for a whole year in order to work together. More Information here.

I met Ryme at a competition for women entrepreneur (WeMENA), we were both participants, we then became friends and we have been since working and supporting each other.

Now as a leader how do you spot, develop, keep, grow and support your talent?

I strongly believe that you have to give first in order to get. I am grateful for everyone that helped me get to where I am and for that, I have an open door policy. Anyone who wants my help is welcomed, I give my email publicly and hold meetings for whoever wants to meet with me. After every meeting, I give feedback and a small homework to those asking for help if they come back with their homework I will help them further. For instance, I could share with them a personal connection, set meetings, and recommend a book or an online class.

Do you consciously or unconsciously support diversity and why?

I consciously support diversity and I enjoy working with a mix diverse set of people from different backgrounds, who can bring a flavor of new ideas and different aspects. I believe that any human being with strong ethics and hard work deserves a chance. I support women and anyone persecuted for who they are.

What is your take on what it takes to be a great leader in your industry and as a general rule of thumb?

Strong integrity, honesty and ethics are crucial traits. Great leaders empower people with a compelling vision and clear goals. They also inspire confidence in people by identifying the driving forces that are shaping the future.

Advice for others?

It might sound cliché, but I advise anyone to follow his or her dreams, smartly of course. I am not asking people to quit their jobs tomorrow, but to strategically draft plan of action for a future they like to see, have and leave. I also totally believe that everything you set your mind into, you can accomplish. The limitations you might think of being sometimes only in your head, with perseverance and persistence anything is possible. Hard work pays off!


To learn more about SunRay Energy, please see http://sunrayenergy.me/.

I am a huge fan and cheerleader of Women Leaders — If you know of an AMAZING Woman Founder, CEO, Leader in Tech or you are one yourself — Write me here.
AMPLIFY Conscious Business Leadership with me.

This article was co-written with Mariem Khemir.
LinkedIn: https://www.linkedin.com/in/mariem-khemir-36b52a85/

Mariem Khemir is a woman advocate, with an excellent educational background in Technology. She has working experience in Munich, Tokyo, Bangkok, and Tunis in various sectors including engineering, consulting, and tech start-ups.
Always eager to explore and push boundaries in tech, she has worked in different areas of technology, including the web, energy supply systems and electric drives.

Entrepreneurship

Will Financial Liberalisation Trigger a Crisis in China?

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The People’s Republic of China (PRC) has been liberalizing its financial system for nearly 4 decades. While it now has a comprehensive financial system with a large number of financial institutions and large financial assets, its financial policies are still highly repressive. These repressive financial policies are now a major hindrance to the PRC’s economic growth.

The PRC is at the beginning of a new wave of financial liberalization that is necessary for supporting the country’s strong economic growth. The country’s leaders have already unveiled a comprehensive program of financial reform, which includes 11 specific reform measures in three broad areas: creating a level-playing field (such as allowing private banks and developing inclusive finance), freeing the market mechanism (such as reforming interest rate and exchange rate regimes and achieving capital account convertibility), and improving regulation.

But could financial liberalization lead to a major financial crisis in the PRC? What would be the consequences for financial stability as the PRC moves to further liberalize its financial system? If the PRC repeats the painful experiences of Mexico, Indonesia, and Thailand, then it might not be able to achieve its original goal of overcoming the middle-income trap.

International experiences of financial liberalization, especially those of middle-income economies, should offer important lessons for the PRC. In our new research, based on cross-country data analysis, we find that financial liberalization, in general, reduces, not increases, financial instability. This powerful conclusion is valid whether financial instability is measured by crisis occurrence or by fragility indicators, such as impaired loans and net charge-offs. The only exception is that financial liberalization does not appear to significantly lower the probability of systemic banking crises, although it does lower the risk indicators for banks. These results have higher statistical significance and are greater in magnitude for the middle-income group than for the entire sample.

The insignificant impact on banking crises, however, should be interpreted with caution. One of the possible explanations is that under the repressed financial regime, the government supports banks with an implicit or explicit blanket guarantee. This reduces the probability of an explicit banking crisis, although the banking risks may be even greater because of the moral hazard problem. In fact, government protection of banks could also increase the probability of a sovereign debt crisis or even a currency crisis before financial liberalization.

If financial liberalization significantly reduces the likelihood of financial crises, especially in middle-income economies, then why did some middle-income economies experience financial crises following liberalization? We further investigate whether the pace of liberalization, the supervisory structure, and the institutional environment matter for outcomes of financial liberalization.

We obtain three main findings. First, an excessively rapid pace of financial liberalization may increase financial risks. The net impact on financial instability depends on the relative importance of the “liberalization effect” and the “pace effect.” In essence, what the “pace effect” captures could simply be the prerequisite conditions and reform sequencing that are well discussed in the literature. Second, the quality of institutions, such as investor protection and law and order, also matter. International experiences indicate that investor protection can significantly reduce the probability of financial crises. Third, the central bank’s participation in financial regulation is helpful for reducing financial risks during financial liberalization. This is probably because central banks always play central roles in financial liberalization, especially in the liberalization of interest rates, exchange rates, and the capital account. If a central bank is responsible for financial regulation, its liberalization policies might be more cautious and prudent.

Our research findings offer important policy implications for the PRC. (1) Further financial liberalization is necessary not only for sustaining strong economic growth but also for containing or reducing financial risks. (2) Gradual reform may still work better than the “big bang” approach, and sequencing is very important for avoiding the painful financial volatilities that many other middle-income countries have seen. (3) The government should also focus more on improving the quality of other institutions, especially market discipline, to contain financial risks. (4) It is better for the central bank to participate in financial regulation. The new regulatory system should focus exclusively on financial stability and shift from regulating institutions toward regulating functions. It should also become relatively independent to increase accountability.

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About the Author 

This submitted article was written by  and  of Asia Pathways, the blog of The Asian Development Bank Institute was established in 1997 in Tokyo, Japan, to help build capacity, skills, and knowledge related to poverty reduction and other areas that support long-term growth and competitiveness in developing economies in the Asia-Pacific region.

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Entrepreneurship

Women on Top in Tech – Chrissa McFarlane, Founder and CEO of Patientory

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(Women on Top in Tech is a series about Women Founders, CEOs, and Leaders in technology. It aims to amplify and bring to the fore diversity in leadership in technology.)

Chrissa McFarlane is the Founder and CEO of Patientory, a patient-centered enterprise solution on the blockchain to store, secure and access healthcare information in real-time. She is a leader and an entrepreneur with a passion for creating cutting-edge healthcare products that transform the face of healthcare delivery in the United States of America and abroad.

What makes you do what you do?
I am passionate about helping people, especially when it comes to their healthcare. This is my daily motivation for pushing forward in one of the most challenging industries to innovate.

How did you rise in the industry you are in?
Through my networks and maintaining a strong advisory board, I am able to make an impact.

Why did you take on this role/start this startup especially since this is perhaps a stretch or challenge for you (or viewed as one since you are not the usual leadership demographics)?
I took on the role and decided to start this startup primary to follow my passion and be an inspiration for other women who are seeking to start their own business.

Do you have a mentor that you look up to in your industries or did you look for one or how did that work?
I have multiple mentors. I met them through my networks.

How did you make a match if you did, and how did you end up being mentored by him/her?
Through introductions and after speaking with them I saw a character alignment that prompted me to ask them to by my mentor.

Now as a leader how do you spot, develop, keep, grow and support your talent?
Through one on one meetings, and team building.

Do you consciously or unconsciously support diversity and why?
I consciously support diversity because a diversity of thought breeds success in the workplace. It is important to have different lenses of thought to be represented. Our company is a representation of the people we serve.

What is your take on what it takes to be a great leader in your industry and as a general rule of thumb?
A great leader in healthcare is equipped to serve the people. Unlike many other industries, healthcare is centered around sustaining the health of the human being. You certainly need to encompass a passion for seeing individuals live and lead healthy lifestyles.

Advice for others?
In building emerging technology, education is always key to success.

Our first Inaugural Blockchain Healthcare Summit will take place on May 31st in Atlanta, GA where we will discuss the current state of blockchain projects and opportunities for the future.


If you’d like to get in touch with Chrissa McFarlane, please feel free to reach out to her on LinkedIn: https://www.linkedin.com/in/chrissamcfarlane/

To learn more about Patientory, please click here.

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