MEAB Plays Vital Role in UAB and U.S. Federal Reserve Summit
Nabih Haddad, the General Manager of MEAB, and Ali Abbas, the Assistant General Manager of MEAB, represented the bank at a recent joint conference held by the Union of Arab Banks (UAB) and the Federal Reserve Bank of New York in New York City where the Bank, along with other Arab banks, demonstrated their commitments to upholding global banking standards. Participants at the conference included Arab banking officials, representatives of major U.S. banks and banking regulators from the United States.
Mr. Haddad participated in seminars and discussion sessions on key issues in Arab-U.S. banking relations, including compliance and financial sector ethics. The sessions were led by global compliance directors of leading U.S. banks, such as Bank of New York, Citibank, JPMorgan and Standard Chartered Bank. The conference speakers also included Executive Vice President of the Federal Reserve Bank of New York, Thomas Baxter, and Joseph Torbey, President of Association of Banks in Lebanon and chairman of the Executive Committee of the Union of Arab Banks.
As part of the conference, Mr. Haddad, Mr. Abbas and other Lebanese bank officials presented four important pieces of financial legislation that were passed in November 2015 by the Lebanese Parliament, which reflect the commitment of Lebanon and Lebanese banks to upholding global banking standards in compliance with U.S. financial laws.
The Bank was founded in 1991 by Mr. Kassem Hejeij as an institution that has complied with high international banking standards for over two decades. MEAB is committed to combating terrorism financing and money laundering activities. World Finance Magazine has named Middle East Africa Bank (MEAB) “Best Retail & Private Bank in Lebanon”.