Credit Libanais SAL
This page sets out what the record shows about Credit Libanais SAL. It names the owners and managers, gives the dollars the bank bought from the Central Bank in the years whose records survive, lists the requests that the Central Bank refused and describes the action that regulators took against the bank.
بنك الاعتماد اللبناني
Name, licence and status
- Name in English
- Credit Libanais SAL
- Name in Arabic
- بنك الاعتماد اللبناني
- Type
- Branch of a foreign bank (Lebanon)
- Regulatory measures
- No sanction, ban or fine recorded as of the date of writing
Ownership
The Iraq Securities Commission page names no shareholder with about 10 per cent or more. The shareholder tables of the annual reports are not yet in the record.
Owners and managers
| Name | Role | Share | As of | Legal status | Source |
|---|---|---|---|---|---|
Dr. Joseph Torbey | Chairman | Not stated | 31 December 2024 | Not charged as of the date of writing | abl.org.lb |
CIH Bahrain International Holding s.a.l. (Lebanon)(company) | Shareholder | 35.06% | 31 December 2024 | Not charged as of the date of writing | abl.org.lb |
EFG Hermes CL Holding s.a.l. (Lebanon)(company) | Shareholder | 8.81% | 31 December 2024 | Not charged as of the date of writing | abl.org.lb |
Crédit Libanais S.A.L. (Lebanon) | Shareholder | Not stated | 30 September 2026 | Not charged as of the date of writing | cbi.iq |
Dollars bought from the Central Bank
Dollars bought from the Central Bank, by year
In millions of dollars. Verified rows of the Central Bank's daily records.
| Year | Dollars bought | Cash | Transfers abroad | Share of the year's named sales | Refused | Value of the price gap |
|---|---|---|---|---|---|---|
| 2013 | $659.1m | $155m | $504.2m | 1.4% | $198.4m | $27.7m |
| 2014 | $75.8m | $35.9m | $39.9m | 0.2% | $35m | $1.8m |
| 2017 | $88.6m | $270,000 | $88.4m | 0.5% | Not stated | $3.9m |
| 2018 | $4.8m | $0 | $4.8m | 3.0% | Not stated | $152,319 |
| Total | $828.4m | $191.1m | $637.3m | $233.3m | $33.5m |
Share of the year's named sales: the bank's part of all the dollars that the surviving records attribute to a named bank in that year.
Refused: the requests that the Central Bank's committee turned down. Its minutes survive only from January 2013 to February 2015. An empty cell means that no minutes survive for that year. The yearly figures come from the yearly ledger. The figure at the top of the page comes from the committee's minutes. The two can differ.
What the Central Bank refused
From January 2013 to February 2015 the Central Bank's committee recorded, day by day, which requests for dollars it turned down and why. Its minutes record 82 occasions on which the committee refused all or part of a request by this bank. On those occasions the bank asked for $422.2 million, and $233.3 million of it was refused.
The largest refusals
| Date | Asked for | Refused | The reason, as the committee wrote it | Category |
|---|---|---|---|---|
| 14 September 2013 | $13.8m | $13.8m | لان المصرف قدم طلبه في نفس يوم المزاد وقد تم تبليغ المصارف بتقديم طلباتها اليوم لدي يسبق يوم المزاد | Other |
| 7 September 2013 | $21.6m | $10.7m | غراض تدقيقية | Held for audit |
| 7 October 2013 | $8.5m | $8.5m | سلسل 1 و2 لتجاوز مبلغ الاج سلسل 3 لاغراض تدة | Old or invalid invoice; Held for audit |
| 8 July 2013 | $8m | $8m | عدم كفاية الرصيد | Funds did not cover the request |
| 24 September 2013 | $7.5m | $7.5m | تسلسل1 في كشف الحوالات لتجاوز مبلغ الاجاز، تسلسل 2 لورود رقم الاجازة خه 3. عدم تقديم معومات السويفت (punctuation adjusted) | Old or invalid invoice; Import licence problem; Missing or defective documents |
| 23 September 2013 | $10.5m | $6m | 1. تسلسل 1 في كشف الحوالات لتجاوز مبلغ الاجازة 2. استبعد مبلغ الحوالة 3150 لورود الطلب قبل يوم من المزاد ولوجود حوالة ثانية في نفس اليوم (punctuation adjusted) | Old or invalid invoice; Import licence problem |
| 23 October 2013 | $5.1m | $5.1m | حسب طلب المصرف بكتابهم المرقم 937 في 2013/10/20 | Penalty on, or suspension of, the bank; At the bank's request |
| 22 September 2013 | $9.3m | $5.1m | تسلسل 1 في كشف الحوالات لتجاوز مبلغ الاجازة المبلغ السموح به | Old or invalid invoice; Import licence problem |
| 13 January 2013 | $5m | $5m | التوقيع من مراقب المتثال في حين الموقع هو مراقب الامتثال | Other |
| 19 February 2013 | $5m | $5m | كشف الحوالات | Other |
| 25 February 2013 | $5m | $5m | لاغراض تدقيقية | Held for audit |
| 27 February 2013 | $5m | $5m | وجود زبون مخالف لتعليمات غسيل الاموال | Customer flagged under anti-money-laundering rules |
Each reason is quoted in Arabic, in the committee's words. Where a reason is marked “punctuation adjusted”, only its punctuation was changed. The category is ours.
Enforcement actions
No enforcement action against this bank is recorded here.