Credit Libanais launches Bahrain operations
Manama, October 30, 2007
Credit Libanais Sal, one of the leading banks in Lebanon established since 1961, has officially launched its operations in Bahrain.
Credit Libanais in Bahrain, which will serve all GCC customers, joins the bank's network of 58 branches in Lebanon, a full-fledged branch in Limassol, Cyprus and a representative office in Montreal, Canada.
The bank, which is a global provider of specialised financial services, offers its customers, through its activities and those of its numerous subsidiaries, a wide array of services, including retail, corporate, investment and Islamic banking, leasing, micro-finance, as well as Small and Medium Enterprises (SMEs) funding, said a senior official.
The bank is a pioneer in e-banking services, operating a wide network of ATMs and POS, an advanced Call Centre and internet banking services that allow customers easily and securely access the Bank, wherever they may be in the global village.
Credit Libanais also furnishes quality standards in capital markets and private banking products and instruments, traded on both domestic and international markets. The Bank is an active participant in the co-management of all sovereign Eurobonds issues and is considered a major market maker on the Lebanese fixed income securities market.
The Bank develops and maintains strategic cooperative partnerships with numerous international bodies, such as the Arab Trade Financing Program (ATFP), the Inter Arab Investment Guarantee Corporation (IAIGC), the Islamic Corporation for the Insurance of Investments and Export Credit (ICIIEC), the European Investment Bank (EIB), the Export Development Corporation (EDC), the Saudi Development Program (SDP), and the International Finance Corporation (IFC).
The launching took place at the Ritz Carlton Hotel and was hosted by the bank's chairman and general manager Dr Joseph Torbey, who warmly welcomed all the distinguished attendees, and thanked the Kingdom of Bahrain's government for their support in facilitating the establishment of the bank.
Bahrain was chosen for being a financial hub in the Gulf region, and for its economic liberalisation and diversification, tax facilities put at the disposal of investors, added to an encouraging legislative environment, said Dr Torbey.
The Opening ceremony was attended by several of the Kingdom's ministers; Ambassadors; representatives from the Central Bank of Bahrain (CBB); and a number of prominent Bahraini, Lebanese, and regional VIPs and business professionals.
The bank's board of directors and other officials were also present at the ceremony.- TradeArabia News Service
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