iCrowdNewswire Feb 21, 2021 12:55 PM ET
Alt: Statement from MEAB Bank S.A.L regarding BDL Circulars
MEAB bank announces that it has fulfilled all the obligations stipulated in the recent circulars of the Central Bank of Lebanon.
As per Decision No. 13259, issued by the Central Bank of Lebanon under Intermediate Circular No. 567, MEAB bank has increased the Bank’s Common Equity Tier One capital by 20% as determined on December 31, 2018.
MEAB Bank has also complied with the requirements of BDL Circular No. 154 by constituting an external account at its correspondent banks, free of any obligations, representing no less than 3% of the Bank’s total foreign-currency deposits as determined on July 31, 2020.
In addition, MEAB Bank will continue in its utmost commitment to transparency and to the best banking practices by adhering to international and local regulations and guidelines and will continue to play its role to the fullest and contribute to ensure the continuity of the Lebanese banking sector and to preserve the rights of its clients.
MEAB bank vigorously denies all allegations and rumors that have been circulating in the media as well as on social media platforms and warns that any publishing of false accusations or information will be under penalty of legal prosecution.
Inaya A. Hamdan
Assistant General Manager – MEAB bank sal