Federal Bank of Lebanon

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'''Federal Bank of Lebanon''' ([[Arabic]]: بنك فدرال لبنان) is a [[Lebanon|Lebanese]] financial bank, established in 1952 by the businessman Michel Ayoub Saab. The bank owns 9 branches in [[Beirut]] and [[Mount Lebanon]].

== Hisrory ==
Federal Bank of Lebanon was established in 1952 by Michel Ayoub Saab, and it is considered one of the oldest Lebanese banks, ranking 16th out of the first 20 licensed banks in Lebanon. After the founder's death, the majority of FBL shares were transferred equally to Ayoub Farid Saab and Fadi Michel Saab.

In 1982, Federal Bank of the Middle East (FBME) was established in [[Cyprus]] as a subsidiary of the Lebanese Federal Bank.<ref name=":0">Liquid error: wrong number of arguments (given 1, expected 2)</ref>

In 1986, the Federal Bank of the Middle East changed the country of incorporation to the [[Cayman Islands]], and its banking presence in [[Cyprus]] transformed into a branch of the Cayman Islands entity.<ref name=":0" />

Since 1993 he has had a representative office in [[Moscow]].

In 2003, the Federal Reserve Bank of the Middle East ended its banking presence in the [[Cayman Islands]], establishing the parent company, and its operational headquarters in [[Tanzania]]. At the same time, its operations in [[Cyprus]] became a branch of the Federal Reserve Bank of the Middle East, Tanzania.<ref name=":0" />

The bank, which was established by the Lebanese Saab family, practically stopped operating after the US government imposed sanctions on it in mid-2014. The Tanzanian bank, which is owned by FBME LTD, meaning "Federal Bank of the Middle East Ltd.", a holding company, also owns "Federal Bank of Lebanon", in addition to FBME. Among his clients, according to the US Treasury Department, were a financier of [[Hezbollah]]<ref> ما علاقة مالكي فدرال بنك لبنان|url=https://www.klyoum.com/lebanon-news/politics/2020/aug/mtv-945-اخبار-لبنان-ما-علاقة-مالكي-فدرال-بنك-لبنان-بالسفينة-روسوس-وحزب-الله-.php|access-date=2021-02-26|website=KLYOUM.COM|language=ar}}</ref><ref> Business , Local THE DAILY STAR|url=https://www.dailystar.com.lb/Business/Local/2014/Jul-19/264367-cyprus-takes-control-of-lebanese-owned-bank.ashx|access-date=2021-02-26|website=www.dailystar.com.lb}}</ref>, as well as a partner of [[Hezbollah]] and his company in [[Tanzania]], and clients representing an alleged front company for the Syrian efforts to obtain weapons of mass destruction.<ref name=":0" />

== See also ==

* [[List of Banks in Lebanon]]
* [[Banque du Liban]]
* [[Bank Audi]]
* [[Byblos Bank]]
* [[Fransabank]]
* [[Economy of Lebanon]]

== References ==

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