The Board of Bank of Beirut s.a.l. comprises currently seven Directors. Directors are expected to advise the Chairman of the Board in advance of accepting any other company directorship or the Board of Directors of any other company and to obtain the approval of the General Meeting of Shareholders.
The substantial majority of the Board members consist of Directors who are independent, that is, non executives at the Bank, of which three members are prominent bankers. The criteria for the selection of new Directors include unquestionable integrity and character, successful professional background, and the ability and willingness to commit adequate time to the Bank.
The Board meets in formal sessions at least two times each year. Directors are expected to participate in all Board meetings and meetings of committees on which they serve, and to spend sufficient time to prepare for meetings.
Board of Directors
The Board of Directors is currently composed of the following 9 members:
| Salim G. Sfeir |
Chairman & General Manager |
| Fawaz H. Naboulsi |
Deputy General Manager – Member |
| Adib S. Millet |
Vice Chairman |
| Antoine A. Abdel Massih |
Member |
Emirates Bank pjsc
Represented by Mr. Khalid Bin Kalban |
Member |
| H.E. Anwar el Khalil |
Member |
| Architect Rashid Al-Rashid |
Member |
| Krikor Sadikian |
Member |
| Antoine Wakim |
Member |
Board of Directors Responsibilities
- Reviews, approves and monitors the long-term strategic plan as well as the annual budget as presented by the Bank's senior management.
- Evaluates, on regular basis, the Bank's performance.
- Enforces the Bank's policies and practices regarding compliance with applicable laws, regulations, and ethical standards.
- Implements and maintains appropriate systems for risk management and internal control.
- Ensures that the Bank's management and employees are operating in an ethically responsible manner.
- Approves credit lines that exceed the internal lending limit.
- Reviews and approves significant corporate actions, and recommends to the General Meeting of Shareholders to pass the appropriate resolutions in this respect whenever required.
- Oversees effective corporate governance.
- Approves the Charters of the various Committees at the Bank and monitors their performance.
The Bank's day-to-day activities are managed through 11 Committees, which have been established with specific missions, authorities, and responsibilities.