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ABOUT
AFIL

AFIL was first established in 1971, under notice and acknowledgement No. 320 / AD, issued by the Ministry of Interior on June 22, 1971 following the recommendations of the Governor of Banque du Liban , the late President Elias Sarkis.

AFIL ACTIVITES

On November 15, 2001, the licensing of AFIL was revived striving continuously to safeguard the rights of the Financial Institutions:

  • Watching over their interests

  • Caring for their affairs

  • Addressing their needs

  • Coordinating on their behalf with monetary authorities, concerned ministries and private bodies

  • Reinforcing and strengthening the financial and banking sectors, seeking always for the best.

WHY AFIL?

  • United we stand, divided we fall!

  • Intermediary between F.I’s and officials

  • Protects F.I. rights

  • Offers assistance to F.I’s

  • Helps obtain amendments of laws & circulars

  • Organizes seminars

  • Organizes meetings to discuss major actualities.

Realizations

  • Provide the Financial Institutions (F.I.) with the list of debts defaulters

  • International Monetary Fund (IMF) approves AFIL attending their meetings along with the Lebanese Official Delegation

  • Confirm the right of all F.I’s to share with each other, and between them and the Banks, the Information related to their mutual debtors accounts

  • Cancel the minimum ratio requirement for the Lebanese citizens to acquire shares in the F.I’s

Realizations
  • Allow the F.I, starting from 2004, to deduct their provisions for doubtful debts from their income before calculating the income tax, provided their doubtful debts are validated by the BCCL

  • Domiciliation at the F.I’s of Touch, Alpha, Land Telephone, EDL and Mechanic bills

  • Authorize the resident F.I. in execution of fiduciary operations approved by the Central Council of BDL, to obtain certificates of deposits issued by BDL for account of its customers

Realizations
  • Allow the F.I. to request from BDL to reduce from 10% to 5% the margin imposed on private basic funds against created fiduciary accounts, in case these funds are used to conduct securitization of credit (Titrisation Fiduciaire)

  • Issuance of Resolution 9139, which authorizes the acceptance of letters of guarantee issued by F.I’s listed on BDL list, similar to banks, to cover granted facilities

Realizations
  • Replace paragraphs (c) and (e) of clause (1) of the "repeated Article II" of the Basic Decision No. 7776 dated 21/2/2001 related to credit facilities granted in current account per one customer, to become: 70% of his operating capital instead of 40 %, on condition that it does not exceed five times his own private funds

  • Issuance of Resolution 9238 dated 23/1/2006 which excludes F.I. from resolution 7694, requiring from banks to keep 40% of their own funds cash in Lebanese currency

Realizations
  • It was agreed with Deputy Mr. Robert Ghanem, head of the Administration and Justice Committee to recall us and listen to our opinion, and discuss any topic related to the financial sector and stock market operations, to hear our comments

  • Amendment of Article VIII of resolution 7136 to become as follows: the Lebanese F.I. shares should be all nominal shares.

  • Amendment has been approved to add the expression "Financial Institutions" to paragraph 2 of article 638 of the penal code.

REGULATIONS

Banque du Liban (BDL)

Banque du Liban (BDL)

The Banque du Liban was established by the Code of Money and Credit promulgated on the 1st of August 1963, by Decree no. 13513. It started to operate effectively on 1st April, 1964.

Central Council of BDL

Central Council of BDL

The Central Council sets the monetary and credit policies of the Bank, including money supply, and discount and lending rates.

Banking Control Commission (BCC)

Banking Control Commission (BCC)

The Banking Control Commission of Lebanon (BCCL) was established in 1967 by law no. 28/67, as an administratively independent body to replace the banking control department of the central bank.

Capital Market Authority (CMA)

Capital Market Authority (CMA)

Capital Market Authority was established under Law No. 161 date 17.08.2011. Its Board of Directors members were appointed by decision of the Council of Ministers on 19.07.2012.

Special investigation Commission (SIC)

Special investigation Commission (SIC)

SIC was established under Law No. 318 on fighting money laundering defines money-laundering operations, and stipulates the fines and imprisonment penalties imposed on such offences.

Code of Commerce

Code of Commerce

The code of commerce contains the rules relating to all acts of trade, irrespective of the legal quality of their performer, and provisions enforceable on professional traders.

Code of Money & Credit

Code of Money & Credit

The code of Money (CMC) and Credit defines the Lebanese currency (Lebanese Pound), its official shortening (L.L. or LBP), its pure gold content and its divisions in banknotes and coins.

FINANCIAL INSTITUTIONS

44

AHLI INVESTMENT GROUP S.A.L

38

AMANA CAPITAL S.A.L

ARAB FINANCE COORPORATION S.A.L

BOB FINANCE S.A.L

33

BOGO FINANCE S.A.L

9

BSEC S.A.L

28

CA.INDOSUEX SWITZERLAND (LEBANON) S.A.L

23

CAPITAL INVESTMENT CORPORATION S.A.L

20

CAPITAL INVESTMENT SERVICES S.A.L

46

CC INVESTMENT S.A.L

6

CFC S.A.L

CREDILEASE S.A.L

1

CREDIT COMMERCIAL ET FONCIER S.A.L

40

CREDIT FINANCIER INVEST S.A.L.

3

CREDIT FINANCIER S.A.L

27

CREDIT SUISSE (LEBANON) FINANCE S.A.L

CREDIT TRUST S.A.L

42

CSC FINANCE S.A.L

ECE CAPITAL S.A.L

EMKAN FINANCE S.A.L

EXCILLIS FINANCE CO. S.A.L

15

FIDUS S.A.L

48

FME CAPITAL S.A.L

5

GULF FINANCE & INVESTMENT COMPANY S.A.L

10

HALAWI INVESTMENT TRUST S.A.L

IBDAA MICRO-FINANCE S.A.L

INTERNATIONAL FINANCE COMPANY S.A.L

INVESTA FINANCIAL PLANNING S.A.L

17

KAFALAT S.A.L

45

LEBANESE LEASING COMPANY S.A.L

16

LEBANON INVEST S.A.L

18

LIBANO-FRANCAISE FINANCE S.A.L

48

MEDSECURITIES INVESTMENT S.A.L

21

MIDDLE EAST CAPITAL GROUP (MECG) S.A.L

35

OPTIMUM INVEST S.A.L

47

SARADAR FAMILY OFFICE S.A.L

43

SFB S.A.L

SOCIETE D'INVESTISSEMENT FINANCIER S.A.L

26

SOCIETE FINANCIERE DU LIBAN S.A.L

12

SOCIETE LIBANAISE DE FACTORING S.A.L

11

SOGELEASE LIBAN S.A.L

49

UBP FINANCE S.A.L

VITAS S.A.L

BOARD OF DIRECTORS

Mr. Antoine Dib

Mr. Antoine Dib

President

Chairman & CEO - Credit Commercial & Foncier SAL

Mr. Eduardo 
Fakhoury

Mr. Eduardo Fakhoury

Vice President

CEO - Credit Financier Invest

Mrs. Roula 
Soueidan Habis

Mrs. Roula Soueidan Habis

Board Secretary

General Manager - Optimum Invest SAL

Mr. Bassam Frem

Mr. Bassam Frem

Board Accountant

Assistant General Manager - BSEC

Mrs. Rania Stephan

Mrs. Rania Stephan

Board Treasurer

General Manager - CIC

Mr. Elias Feghali

Mr. Elias Feghali

Delegate to Government

Head of Private Banking - MECG

Mr. Fouad Saad

Mr. Fouad Saad

Active Member

Chairman General Manager - Ahli Investment

Mr. Michel Bardawil

Mr. Michel Bardawil

Management

Secretary General - AFIL

Mrs. Aline D Barakat

Mrs. Aline D Barakat

Management

Head of Marketing - AFIL

LATEST EVENTS

Automatic Exchange of Fiscal Information
09
Mar
2017

Automatic Exchange of Fiscal Information

Academy & Finance, Hilton Metropolitan, Mr. Sarkis Sakr will be the main speaker of AFIL

Lecture by Mr. Jean Riachi
31
Jan
2017

Lecture by Mr. Jean Riachi

Conference on Financial Regulation in Lebanon by the CEO of FFA Mr Jean Riachi

Financial Institutions Gathering
30
Nov
2016

Financial Institutions Gathering

This event is scheduled to be at Le Gray Hotel

CIRCULAR
REFERENCES

BDL
BBC
CMA
SIC

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GET IN TOUCH

Address

Beirut Central District azarieh
Bldg ,Gate 1 – 2nd floor
P.O. Box
11-424 Beirut, Lebanon