Governance
02 Board of Directors

The Board of Directors oversees the development of the Bank's overall business strategy and the decisions made by senior management in the pursuit of strategic objectives. The Board of Directors assesses both the appropriateness of the strategy, its probability, and even the extent of its success.

The Board of Directors is composed of nine real members. The majority, represented by eight members, are as follows: six are independent members and two are non-executive members.  This composition helps in strengthening the objectivity of the Board's monitoring and revision of activities. It also enables the members to allocate the necessary time and effort to fulfill their responsibilities.

Although it is not required by local regulations to separate the roles of the Chairman and the General Manager (CEO), the Board has nominated a separate senior Executive General Manager (EGM) to carry out many of the executive responsibilities vested in the General Manager’s role in order to achieve the appropriate checks and balances.

MOHAMMED HARIRIChairman-General Manager
Executive Board Member
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Mohammed Hariri

Chairman of the Board of Directors and General Manager

Mr. Mohammed Hariri is the Chairman-General Manager of Bankmed S.A.L. since July 14, 2005.

Mr. Hariri also serves as the Chairman of the Saudi Lebanese Bank S.A.L.  and of BankMed Suisse S.A. in Switzerland.

He is a member of the board of directors of the Association of Banks in Lebanon.

Mr. Hariri had previously served as a member of the board of directors of Arab Bank PLC, Jordan, and was a member of  Deutsche Bank PWM Middle East and Africa Advisory Board.

He has over 35 years of experience in the management of various international companies in the fields of Banking and Finance, Telecommunication, and Investment, and until 2016, he had served as chairman or board member at a number of these companies.

Mr. Hariri holds a Bachelor’s degree in Business Administration from the University of Ottawa, Canada.

NAZEK AUDI HARIRINon-Executive Board Member
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Nazek Hariri

Non-Executive Board Member

 

Mrs. Nazek Rafik Hariri, the wife of H.E. late Prime Minister Rafik Hariri, is the Vice Chairman of GroupMed, sal (Holding) in addition to being a Board Member of Bankmed SAL. Mrs. Hariri was also member of the board of the Arab Bank PLC for over two decades. She is also Member of the Board of Cleveland Clinic , the President of the Rafik Hariri Foundation and the President of the Board of Trustees of Rafik Hariri University and several other humanitarian, cultural, and educational institutions in the Lebanese Republic and in the Gulf region. Mrs. Hariri is the First Ambassador of the International Osteoporosis Foundation and the President of this Foundation’s 206-A Bone Fund. She is the President of Nazek Hariri Welfare Center for Special Education; President of the Beirut Festivals Association; Vice President of the Chronic Care Center, Lebanon; Member of the Board of Trustees of the Children’s Cancer Center, Lebanon; Member of the “Nahda Philanthropic Society for Women”, Saudi Arabia; Member of the Board of Trustees of the “Welfare Association", Member of the Board of Trustees of Jordan Education Association as well as Co-Chairperson of the Rafik Hariri UN-Habitat Memorial Award.

RAYA HAFFAR EL-HASSANIndependent Board Member
Chairperson of the Group Audit Committee
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Raya Haffar El-Hassan

Independent Board Member

Chairperson of the Group Audit Committee

Member of the Remuneration Committee

 

Mrs. Raya El-Hassan serves as an Independent Member on Bankmed’s Board of Directors since December 2001. She is also a Board Member of MedInvestment Bank S.A.L. and Saudi Lebanese Bank S.A.L..

 

Mrs. El-Hassan is currently the Minister of Interior and Municipalities in Lebanon. Before that, she served as the Chairman-General Manager of Tripoli’s Special Economic Zone.

 

From November 2009 until June 2011, Mrs. El-Hassan served as the Minister of Finance in Lebanon. Earlier in her career, Mrs. El-Hassan served as an Advisor to the Minister of Economy and Trade. In the mid 90’s, she supervised the implementation of tax and expenditure management reforms at the Ministry of Finance and later served as advisor at the Prime Minister’s Office, working on the elaboration of the Lebanese Government’s Economic and Social Reform Agenda.

 

Mrs. El-Hassan holds a Bachelor degree in Business Administration from the American University of Beirut, Lebanon in 1987 and a Master’s Degree in Business Administration from the George Washington University, Washington, D.C., USA in 1990.

MAYYA DABBAGHIndependent Board Member
Chairperson of the Governance and Nomination Committee
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Mayya Dabbagh

Independent Board Member

Chairperson of  the Governance and Nomination Committee

Member of the Compliance and AML/CFT Committee

Member of the Risk Committee

 

Ms. Mayya Dabbagh serves as an Independent Member on Bankmed’s Board of Directors since September 18, 2017.

 

Ms. Dabbagh is also a consultant serving the banking and banking supervision sectors in the Middle East, Turkey, and Africa. Within this capacity, she advises clients on risk management, strategic, governance, compliance, and regulatory issues.

 

Ms. Dabbagh has prior regulatory experience with the banking supervisory authority of Lebanon (Banking Control Commission) as Division Head for Offsite Supervision, and banking experience with Citibank in the Financial Institutions and Corporate Bank Groups.

 

Ms. Dabbagh holds an MBA from Harvard Business School and is a Chartered Financial Analyst (CFA).

 

SALIM CHAHINE, PHD.Member - Chairman of the Compliance and AML/CFT Committee
(Independent)
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Dr. Chahine is the Chairman of Bankmed’s Compliance and AML/CFT Committee and member of the Corporate Governance and Nomination Committee. Dr. Chahine holds the Abdul Aziz Al-Sagar Endowed Chair Professor of Finance at the Olayan School of Business (OSB) -the American University of Beirut, at which he was the Interim Dean of OSB from Spring 2013 to end-2015. Dr. Chahine has been in academia for more than 20 years and has publications in world's top journals in business and finance. He started his career as an Assistant Chief Financial Officer in the Oil-Pipeline Industry in a large European MNC. Since then, Dr. Chahine has been an active advisor in the banking industry and has served as a consultant for a large number of corporations and governments in Europe, North Africa, and the GCC.

PHILIP KHOURYIndependent Board Member
Chairman of the Remuneration Committee
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Philip Khoury

Independent Board Member

Chairman of the Remuneration Committee

Member of the Governance and Nomination Committee

Member of the Audit Committee

Member of the Risk Committee

 

Mr. Philip Khoury serves as an Independent Member on Bankmed’s Board of Directors since September 18, 2017.

 

Mr. Khoury serves also as a board member of Odeabank in Turkey and Sara Holding in Lebanon and as an advisory Board Member to Fattal Holding in Lebanon.

 

Earlier in his career, Mr. Khoury managed the equity research team and was a member of the Executive Committee at EFG-Hermes, a leading MENA investment bank. Prior to that, he worked at Merrill Lynch in London in equity research and in the financial institutions Group, focusing on merger and acquisitions of financial institutions in Southern Europe and Emerging Markets.

 

Mr. Khoury holds an undergraduate degree in Economics from Trinity College, Cambridge University and a Master’s Degree from the London School of Economics.

 

MAROUN ASMARExecutive Board Member
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Maroun Asmar

Executive Board Member

Member of the Compliance and AML/CFT Committee

 

 

Mr. Maroun Asmar serves as an Executive Member on Bankmed’s Board of Directors since December 2001.

 

Mr. Asmar is also the Chairman of MedInvestment Bank s.a.l., GroupMed Insurance Brokers and GroupMed International Management Holding Limited and serves on the Board of Directors of Saudi Lebanese Bank s.a.l..

 

From 2001 to 2004, Mr. Asmar served as General Manager-Logistics of Bankmed S.A.L. and from 2003 to 2004, as General Manager of MedInvestment Bank S.A.L. (formerly known as Banque de la Méditerranée and MIB respectively).

 

Earlier in his career, Mr. Asmar held the position of Dean of the Faculty of Engineering at Saint Joseph University in Beirut, served as Chairman of the Board of Directors of Electricité du Liban, and acted as Chairman General Manager of Berytech.

             

Mr. Asmar  holds an Engineer degree form Ecole Supérieure d’Ingénieurs de Beyrouth" (ESIB) in 1976 and an engineering Degree in Industrial Electronics from «Ecole Nationale Supérieure d’Electricité» (Supelec) in 1978.

Michel AccadSalim Chahine
Independent
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Salim Chahine

Independent Board Member

Chairman of the Compliance and AML/CFT Committee

Member of the Governance and Nomination Committee

 

Dr. Salim Chahine serves as an Independent Member on Bankmed’s Board of Directors since September 18, 2017. Dr. Chahine also serves as a board member in Bankmed’s subsidiary Turkland Bank A.Ş. (T-Bank).

 

Dr. Chahine holds the Abdul Aziz Al-Sagar Endowed Chair Professor of Finance at the Olayan School of Business (OSB) -the American University of Beirut (AUB), at which he was the Interim Dean of OSB from Spring 2013 to end-2015. Dr. Chahine is also the Executive Director of the AUB-Innovation Park. He has been in academia for more than 20 years and has publications in world's top journals in business and finance.

 

Dr. Chahine started his career as an Assistant Chief Financial Officer in the Oil-Pipeline Industry in a large European MNC. Since then, Dr. Chahine has been an active advisor in the banking industry and has served as a consultant for a large number of corporations and governments in Europe, North Africa, and the GCC.

 

Dr. Chahine holds a B.S. in Financial Management from Saint-Etienne University-France, a MSc in Financial Engineering from Marseille Business School , a Master of Research in Banking and Finance and a Doctorate of Philosophy in Business Administration from Aix Marseille III University- France.

 

Oussama SalmanGroup Corporate Secretary, Attorney at Law> View Profile

Oussama Salman

Group Corporate Secretary, Attorney at Law

 

Me. Oussama Salman serves as the Group Corporate Secretary, Attorney At Law, at Bankmed S.A.L. since October 1, 2018.

 

Before joining Bankmed S.A.L., Me. Salman served as Chief Legal Officer of GroupMed Insurance group and still serves as Board member in its various entities. Prior to that, Me. Salman worked at Ramzi Joreige & Partners Law Firm (Lebanon).


Me. Salman is admitted to Beirut Bar Association, and holds a Law Degree from the Faculty of Law and Political Sciences at Saint Joseph University (Lebanon) and a Master of Laws (LL.M.) in International Legal Studies from Georgetown University Law Center (Washington D.C., U.S.A.).   

GROUPMED S.A.L. (HOLDING)Member
(Non-Executive)
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GroupMed is the principal shareholder of Bankmed and one of the largest banking and financial groups in Lebanon, with a growing regional presence.

The Board Committees include the: Audit Committee, Risk Committee, Remuneration Committee, Compliance and AML/CFT Committee, as well as Corporate Governance and Nomination Committee.

The Audit Committee assists the Board in the proper discharge of its duties, especially those related to selecting and enhancing the qualifications and independence of external and internal auditors, fairness of the financial statements and related disclosures. This Committee is also entitled to ensure compliance with applicable laws and regulations.

The Risk Committee assists the Board of Directors in fulfilling its tasks and supervisory role in properly applying the Bank's Risk Management framework as stipulated in the regulations issued by BDL  and the Banking Control Commission of Lebanon (BCCL) Circulars.

As per BDL Circular No. 133, the Bank established a Remuneration Committee for the purpose of setting the Remuneration Principles and standards for Bankmed’s staff of all levels. The Committee also oversees the proper implementation of both the Remuneration Principles and Remuneration framework.

As per the amendments of  BDL Circular No. 83, the Bank formed the Compliance and AML/CFT Board Committee to support the Board of Directors in its functions and supervisory role with respect to fighting money laundering and terrorist financing and understanding the related risks, and to assist it with making the appropriate decisions in this regard.

The Bank also formed a Corporate Governance and Nomination Committee to oversee the governance of the Bank.

The Board and its relevant Committees meet regularly with the Heads of Internal Audit, Risk and Financial Control to review policies and to ensure that control functions are properly staffed and that their responsibilities are carried out effectively. The Board, through its Committees and Senior Management, assesses the quality of Corporate Governance at the Bank on an ongoing basis. The assessment is based on the reviewed results of the activities at the Bank, completed by all control units and by the Bank’s independent examiners.

 

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