Founded: 1991
Total Assets*: US$1.46 billion
Customer Deposits*: US$1.41 billion
Ranking by Assets*: 20
(*as of Dec 31, 2021, ABL Almanac 2022, converted at LL1507.5/US$)
Background
Middle East and Africa Bank SAL (MEAB) was set up in 1991 by the Hojeij family.[1] Its current chairman is Ali Hojeij.[2]
Board
MEAB has one PEP amongst the members of its board. Joseph Sarkis is a former Minister of Tourism (2005-8) and Minister of Agriculture (2006-7),[3] classifying him as an “Indirect1”.
[1] ‘History’, MEAB bank of Lebanon, 18 September 2013, https://www.meabank.com/about/history.
[2] ‘MEAB Announces New Board Chairman’, MEAB bank of Lebanon, 15 June 2015, https://www.meabank.com/node/160?language=en.
[3] ‘Board of Directors’, MEAB bank of Lebanon, 18 September 2013, https://www.meabank.com/about/board-of-directors.
Disclaimer
All content provided in this report (the Report) is for informational purposes only and does not constitute legal, financial or any other professional advice. The Alternative has made every attempt to ensure the accuracy and reliability of the information provided in the Report. However, due to the opacity of available sources of information, The Alternative has relied on the most up to date and self-reported figures from the Association of Banks in Lebanon (ABL) and its member banks, when available. When ABL and banks data was not available, The Alternative relied on physical copies of Lebanon’s commercial registry, online databases and other credible sources. In addition, The Alternative contacted each of the bank’s communications departments for confirmation of data regarding the shareholding and management of said banks. Only Bank Audi and BLOM Bank provided relevant information, both of which have been included in their entirety. Amongst others, the sources of the Report include various commercial registries, official bank websites, online aggregators, databases dedicated to company registration, the Organised Crime and Corruption Reporting Project (OCCRP), Bilanbanques reports, and many others.
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