BEIRUT: Joseph Torbey retained his position as president of the Association of Banks in Lebanon for another two years after his list grabbed 11 of the 12 seats on the board of directors, while his rival Salim Sfeir managed to win a seat in the board. The highly publicized election saw two lists vying for the highly coveted 12 positions on the board of directors for the first time in 23 years, potentially ushering in a new era in the long history of ABL.
Out of the 63 members of the association, 61 attended the general assembly to cast their vote as ABL’s staff read aloud the names of candidates from both lists.
After counting all the votes, the winners got the following votes: Torbey (Credit Libanais) 41, Saad Azhari (BLOM Bank) 44, Tanal Sabah (Lebanon-Swiss Bank) 44, Ghassan Assaf (Bank of Beirut and Arab Countries) 42, Walid Raphael (Banque Libano-Francaise) 41, Freddie Baz (Bank Audi) 41, Semaan Bassil (Byblos Bank) 39, Antoine Sehnaoui (SGBL) 38, Mohammed Hariri (Bankmed) 36, Abdul Razzak Achour (Fenecia Bank) 35, and Sfeir (Bank of Beirut) 32.
Torbey told participants in the election that he would continue to uphold the interests of the banking sector and cooperate with all members of the association, even those who voted against his list.
He stressed that the association is an essential component of Lebanon’s economic bodies, representing a vital sector that plays an active and effective role in supporting the national economy.
Torbey underlined the need to continue coordination and consultation with all members of the banking family and to continue close cooperation with the monetary authorities, especially in light of the rapid political, economic and security developments in neighboring countries.
“There is also a need to support the monetary policy of the Central Bank and to maintain contacts and cooperation with financial institutions in the region and abroad,” Torbey said.
Extract from Daily star Article
