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Bank of Beirut Hosts a Lunch on the Occasion of the International Arab Banking Summit 2009 held in London by the Union of Arab Banks
Bank of Beirut’s “Award for Excellence” granted to H.E. Mr. Hamood Bin Sanjour Al Zadjali, executive president of Central Bank of Oman for his achievements in the banking field
For immediate release
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Bank of Beirut – July 7, 2009: On the occasion of the International Arab Banking Summit 2009, organized by the Union of Arab Banks in London on the 25th and 26th of June, 2009, under the title « Back to Basics in Post- Crisis Strategies», Bank of Beirut, sponsoring partner of the forum, hosted a lunch on the 26th of June at The Waldorf Hilton hotel, in honour of Arab, Lebanese, and European eminent figures in the banking, economic and financial sector.
The lunch was an honouring ceremony offered by Bank of Beirut to H.E. Mr. Hamooud Bin Sanjour Al Zadjali, executive president of the Central Bank of Oman, for his achievements in the banking field.
In the speech he delivered for the occasion, Mr. Salim Sfeir, Chairman General Manager of Bank of Beirut warmly welcomed his guests, particularly H.E. Mr. Hamood Bin Sanjour Al Zadjali, and praised the special relations between Bank of Beirut and the Sultanate of Oman which has opened up its gates to the Bank three years ago.
Sfeir stressed on the positive relations with the Sultanate, which always offered many facilities to the Bank: “Some were provided by the exceptional political and economic stability prevailing in this beloved country; and others by the Omani authorities represented by the Central Bank of Oman.” Mr. Sfeir extended his thanks as well to the Omani banks, “which were dealing with us, not on the basis of competitors but on the basis of mutual trust”.
Mr. Sfeir spoke about the expansion strategy adopted by Bank of Beirut 15 years ago, which started with the Gulf region, “and reached Africa, Europe and even beyond: affiliates, representative offices, efficient branches, cooperation protocols… »
Sfeir announced that after the launching of Bank of Beirut – UK limited and Bank of Beirut Invest, a new bank will be born before the end of the year, which is Bank of Beirut – Frankfurt. Concluding his speech, Bank of Beirut’s Chairman invited Arab banks to benefit from the presence of Bank of Beirut in London and Europe, where it could help them in their transactions.
Then, Mr. Sfeir presented the “Award for Banking Excellence” to H.E. Mr. Hamooud Bin Sanjour Al Zadjali for his numerous achievements in the banking sector. In his speech, Al Zadjali thanked the audience and Bank of Beirut who invited him offering him this honoring reception, and stressed on the important role played by local, foreign and Arab banks in the stimulation of the Omani banking sector. He emphasized as well the importance of the relations between the Sultanate and Bank of Beirut.
A documentary about Bank of Beirut prepared for the event was then displayed, introducing the beginnings of the Bank and its expansion outside the Lebanese borders, through affiliates and representative offices, namely in London. The documentary shed light also on the Bank’s important presence abroad and the services it offers to individuals, corporations and banks.
It is worth mentioning that during its expansion course, Bank of Beirut chose in 2007 the Sultanate of Oman as its first effective station in the Middle East and the Arab Gulf region, despite its former presence in Iraq and the UAE through representative offices. This initiative reflects the tight bonds between Lebanon and Oman. This relation has been manifested by the opening of a second branch on the Omani territory in 2008, in Sohar region, and other branches are expected to open as well.
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For more information contact:
Ingrid Sfeir
Head of Media Relations
Bank of Beirut S.A.L.
Phone: 01/738767 – ext 227
Email: isfeir@bankofbeirut.com |
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| About Bank of Beirut s.a.l. |
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Incorporated in 1963 in Beirut, Lebanon, Bank of Beirut s.a.l. is one of Lebanon’s leading banks ranking 7th in terms of total assets and 6th in terms of profitability. The Bank offers a full range of banking services throughan extensive network of 43 branches in Lebanon, and a network of foreign entities: a branch in Limassol - Cyprus, a branch in Muscat - Sultanate of Oman, a wholly owned subsidiary in London - United Kingdom (Bank of Beirut (UK) Ltd) and three Representative Offices located in Dubai - UAE, Lagos - Nigeria and Bagdad - Iraq. In addition, Bank of Beirut operates a wholly-owned Financial Institution (BoB Finance s.a.l.) and an insurance brokerage firm (Beirut Brokers s.a.r.l.) and an independent investment bank, (Bank of Beirut Invest s.a.l.).
Since 1997, the Bank embarked on an aggressive expansion plan, aiming at enhancing its market position. This was achieved through a number of transactions ranging from private placements and issuance of Preferred Shares, to entering into strategic alliances with regional Arab banking institutions, and acquiring other banking competitors, namely Transorient Bank s.a.l. in late 1998, and Beirut Riyad Bank s.a.l. in June 2002. |
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