MEAB bank s.a.l
Formerly | Middle East and Africa Bank |
|---|---|
| Société anonyme libanaise | |
| ISIN | 🆔 |
| Industry | Financial Services |
| Founded 📆 | |
| Founder 👔 | |
| Headquarters 🏙️ | Beirut, Lebanon |
Number of locations | 19 Branch (2018) |
Area served 🗺️ | |
| Products 📟 | Consumer banking, corporate banking, private banking, insurance, credit cards |
| Members | |
Number of employees | 265 (2018) |
| 🌐 Website | https://www.meabank.com/ |
| 📇 Address | |
| 📞 telephone | |
MEAB bank s.a.l, (Arabic: بنك مياب, formerly known as Middle East and Africa Bank), is a commercial bank founded in 1991 Lebanon and operating throughout the country.[1]
As an emerging competitor in Lebanon's banking sector, MEAB bank has rapidly climbed up the ranks and is recognized as a trusted bank in the country. In 2018, it was ranked 18th in deposits and total assets out of more than 60 banks in Lebanon and was second in total deposits within the Beta group (Lebanese banks whose deposits range between $500M and $2B).[2]
The bank has 19 branches throughout Lebanon, with 28 ATMs, 265 employees, and over 11,000 customers.[2]
History[edit]
In 1991, MEAB bank's founders returned from their successful business ventures in Africa and established MEAB bank in their home country of Lebanon. Coming in with a lot of experience and well-developed entrepreneurial skills, that year saw MEAB bank open its first branch as a small corporate bank in Verdun. In its short history, MEAB bank has expanded from a small corporate bank to a full-service bank.[3][2] In 2011, Banker Middle East named MEAB bank as the “Fastest Growing Bank in Lebanon”. The World Finance Banking Awards named MEAB bank “Best Private Bank in Lebanon” in 2012 and “Best Retail Bank in Lebanon” in 2015. MEAB bank was selected by IBEF - International Beirut Energy Forum, as Energy Ambassador of the Year 2019 Award.[4]
The bank has expanded itself domestically by providing new services, increasing product penetration, and opening up to new audiences. While expanding, MEAB bank has stayed committed to its goals of sustainable and profitable growth without compromising on the quality of its services. It is also fully devoted to complying with local and international standards of anti-money laundering and counter-terrorism financing and FATCA, to ensure safe and sound banking to its customers.[5]
Compliance to regulation[edit]
To offer the best quality service possible to its customers, MEAB bank complies with local and international standards, laws, regulations, and recommended practices.[6]
MEAB bank keeps up-to-date with national and international sanctions development and new banking requirements. It employs state-of-the-art screening and monitoring systems to screen both customers and transactions against international and domestic sanctions lists, including those of North America (OFAC, OSFI...), Europe (EU, HM treasury...), Asia, the Middle East, and other international lists (UN).[7]
MEAB bank has 2 AML/CFT committees:
- The Board Compliance Committee, headed by an independent Board of Directors member.
- The AML/CFT management committee, headed by the bank's General Manager.
Both committees are responsible for overseeing the Bank's AML/CFT policies and procedures and their sound implementation.
Rebranding[edit]
2018 marked a year of change, prosperity, and growth for MEAB bank as it went for a branding overhaul. The purpose was to extend its services to the public and attract a larger target audience. Rebranding would also help modernize the bank's image as a more dynamic, young, and digital bank, creating a closer and more personal relationship between the bank and its customers.[8][9]
Other articles of the topic Banks
: Bahrain National Holding BSC, Lehman Brothers Holdings Inc.
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References[edit]
- ↑ "List of ALL Companies in Lebanon Beirut Company Agencies TOP 100 Best Businesses Lebanese Phone Numbers Owners Products Activities". www.5index.com. Retrieved 2021-03-11.
- ↑ 2.0 2.1 2.2 "History". MEAB Bank of Lebanon. 2013-09-18. Retrieved 2021-03-11.
- ↑ "Middle East and Africa Bank S.A.L. (Meab), Lebanon - Company Information, Key People, Latest News and Contact Details - ZAWYA MENA Edition". www.zawya.com. Retrieved 2021-03-11.
- ↑ Bank, MEAB. "MEAB Bank Named "Best Private Bank in Lebanon" by World Finance Magazine". www.prnewswire.com. Retrieved 2021-03-11.
- ↑ "Lebanon feels the impact of US anti-terror financial regulations". Executive Magazine. 2015-08-17. Retrieved 2021-03-13.
- ↑ "Nedaa holds two-day seminar to disseminate OHS and hazard prevention culture". Middle East Business. 2015-07-22. Retrieved 2021-03-11. Unknown parameter
|url-status=ignored (help) - ↑ "Compliance & Corporate Governance". MEAB Bank of Lebanon. 2013-09-17. Retrieved 2021-03-11.
- ↑ "Under New Management, MEAB strives to become an Alpha Bank in Lebanon". Middle East Business. 2015-07-22. Retrieved 2021-03-13. Unknown parameter
|url-status=ignored (help) - ↑ "Retail Banking". MEAB Bank of Lebanon. 2013-09-17. Retrieved 2021-03-11.
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