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In page History of Lebanon:

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During the 1960s, Lebanon enjoyed a period of relative calm, with Beirut-focused tourism and banking sector-driven prosperity.[citation needed] Lebanon reached the peak of its economic success in the mid–1960s—the country was seen as a bastion of economic strength by the oil-rich Persian Gulf Arab states, whose funds made Lebanon one of the world's fastest growing economies. This period of economic stability and prosperity was brought to an abrupt halt with the collapse of Yousef Beidas' Intra Bank, the country's largest bank and financial backbone, in 1966.