ABL and Sector News

The Association of Banks in Lebanon elects a new Board of Directors headed by Dr. Salim Sfeir

July 01 2019
On the 29th of June 2019, Bank of Beirut CEO Mr. Salim Sfeir was unanimously elected as chairman of the Association of Banks in Lebanon. The new ABL Board of Directors also elected the general manager of Fransabank Mr. Nadim Kassar as Vice President, the chairman of Banque Libano-Francaise Mr. Walid Raphael as Secretary, and the chairman of the Lebanese Swiss Bank Dr. Tanal Sabbah as Treasurer.

Chairmen of Bank of Beirut and the Arab Countries (BBAC), Mr. Ghassan Assaf; Bankmed, Mr. Mohammad Hariri; Byblos Bank, Mr. Semaan Bassil; Fenicia Bank, Mr. Abdel Razzak Achour; and SGBL, Mr. Antoun Sehnaoui, were maintained in the board of directors, while Bank Audi will be represented by its chairman Mr. Samir Hanna from now on.

Following his elections, Mr. Sfeir reported that our country’s economy is facing challenges which have to be confronted by enhancing the level of the banking sector, to boost the economic conditions and to ensure the required national social stability, which will restore confidence in the state project.

Mr. Sfeir thanked all those who have preceded him with this responsibility and called them to join their efforts in order to achieve the required goals. Among his objectives over the next two years were the increase of the presence of the Association as an influencer in the economic policies, the completion of the regulatory structure within the association, the development of a media strategy and means of communication to give a genuine image of the sector and address the undesirable targeted campaigns, and the strengthening of the coordination with the Governor of the Central Bank of Lebanon to improve the development of the banking sector.

Mr. Sfeir also suggested the establishment of a specialized unit with international competencies to monitor the evolution of international banking systems and to ensure an active presence in all international conferences. He also added that the enhancement of the association’s potential through the development of research and studies division was needed.

Mr. Sfeir ended his speech by hoping to make a difference for the benefit of the nation, the economy and the people. He called on all banks, irrespective of their size, to reach out to the association because the association is for everyone and all.
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