The city center is a focus of financial activity, with quality establishments providing banking, insurance and other services. First established in and around Riad El Solh street, traditionally known as Banking street, the financial district has expanded in scope and location. More than 60 banks and insurance companies operate downtown. Financial headquarters have extended to new development areas of the city center: Bank Audi strategically facing Park Avenue, UFA Assurance in Martyrs' Square, Al Ahli International Bank and MedGulf Insurance in the Souks sector. These herald the further establishment of financial headquarters in the New Waterfront District.