Raya Al-Hassan in a new position … | Phalanges

“Bank of the Mediterranean” SAL announced In a statement, “In light of the election of a new board of directors for the bank, Mrs. Raya Hafar Al Hassan was elected to take over the chairmanship of the board of directors, and Mr. Michel Akkad was appointed to take over the executive management in the bank.”

“Bank of the Mediterranean” SAL announced In a statement, “In light of the election of a new board of directors for the bank, Mrs. Raya Hafar Al Hassan was elected to take over the chairmanship of the board of directors, and Mr. Michel Akkad was appointed to take over the executive management in the bank.”
He explained, “The appointment of Mrs. Hassan and Mr. Akkad comes from October 9, 2020 and for the term of the newly elected council, which ends with the annual general assembly meeting, which will convene to consider the bank’s accounts for the fiscal year 2022.”
He pointed out that “these appointments reflect the commitment of” Bank of the Mediterranean “and its shareholders to ensure that the bank is prepared to face the current economic and financial challenges in a difficult operating environment, by adopting a renewed strategic destination that contributes to strengthening the balance sheet of the bank.
The statement added: “Mrs. Al-Hassan’s solid experience in the financial and banking sectors, and her ability to work in difficult circumstances, in addition to her deep knowledge of the bank and the“ Bank of the Mediterranean ”group (because she held the position of an independent board member with the bank and each of the two boards of directors of” Sea Bank ” The Mediterranean Investment Company SAL and the Saudi Lebanese Bank SAL since 2011), and it will have an active role in guiding the bank during these critical times.
He continued, “Mrs. El Hassan has a distinguished track and experience in the field of public finance and economic reform through her appointment as Minister of Finance in Lebanon (November 2009 – June 2011) and assuming the presidency of the Special Economic Zone Administration Authority in Tripoli.
(May 2015 – January 2019), in addition to holding advisory positions at the beginning of her career with the Presidents of the Council of Ministers and with the Minister of Economy and Trade. Mrs. Hassan was appointed Minister of Interior and Municipalities (January 2019 – January 2020).
He pointed out that Al-Hassan “holds a bachelor’s degree in business administration from the American University of Beirut, and a master’s degree in business administration with honors from George Washington University. In 2019, she received an honorary doctorate in humane arts from the Lebanese American University and an honorary doctorate in business administration from the University Beirut Arab. “
The statement indicated that “Mr. Akkad has successful experience in the financial services sector through his holding of key positions in prominent regional and international banking institutions, such as“ Al Ahli Bank of Kuwait ”(Group CEO, May 2014 – April 2020),“ Gulf Bank ”(Chairman Group CEO, 2009-2014), and “Arab Bank” (Assistant CEO, 2006-2009, responsible for all areas of “Arab Bank” worldwide). Before joining “Arab Bank”, he spent more than 27 years in Citibank, which he joined in 1979, and his last position at Citibank was CEO and Managing Director of the Middle East and North Africa division (2001-2006).
He stated that Akkad “holds a BA in Business Administration from the American University of Beirut (1976), and a Masters degree in Business Administration with honors from the University of Texas at Austin (1978).”
Bank of the Mediterranean, together with the “Mediterranean Holding Group” S.A.L. Which owns more than 99 percent of its capital, with gratitude and thanks to the former members of the board of directors, headed by Mr. Muhammad Ahmad Mukhtar Al Hariri, who held the presidency and general management of the bank for more than 15 years. Mr. Hariri informed the board of directors, at the end of 2019, of his desire to retire.
The statement concluded by affirming that the Board of Directors of Bank of the Mediterranean SAL and its shareholders continue to adhere to the highest ethical and ethical standards and rules of sound banking management in managing the bank’s operations, continuing to serve their clients and improving the services they provide to them, and working to develop management capabilities. The bank and its employees, in order to guide the institution towards a path of sustainable growth and sound financial position and to promote a culture of trust and transparency.