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Beirut, Lebanon - BBAC (Bank of Beirut and the Arab Countries) became a signatory of the Investors for Governance & Integrity (IGI) declaration initiated by Capital Concept. The signature ceremony for the IGI declaration was held at the American University of Beirut in the presence of Mr. Ghassan Assaf, Chairman and General Manager of BBAC, Mr. Yasser Akkaoui, Chairman of Capital Concept, and a crowd of Lebanese financial and commercial figures as well media representatives.
Mr. Assaf stated in his speech: “Last year BBAC celebrated its 60th anniversary. Throughout those years the bank practiced fairness and transparency with all its stakeholders; this built up a healthy governance culture internally at the bank and a respectable reputation in the market. “
He added: “By signing the IGI declaration, BBAC commits to enhancing its corporate governance practices, and to safeguarding the interests of its stakeholders, thus supporting transparency and credibility procedures adopted in all our transactions. “
"In an ever changing financial environment, one can no longer ignore investors' call for more rigorous governance standards. Therefore, the commitment of financial institutions to the standards of good governance is a guarantee for current and future investors. This commitment contributes as well to the development of the banking sector and to the promotion of Lebanon as a safe investment destination for international players." said Mr. Akkaoui.
The IGI declaration is a platform that brings together investors and corporates that recognize the importance of best in class corporate governance standards, to mitigate financial risk and defend shareholder rights, through committing the utmost transparency and accountability measures in their investment approaches.
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© Press Release 2017
