Arab Bank Lebanon
The relationship between Arab Bank and its Board of Directors and shareholders provides the Bank with a general framework for implementing and achieving its strategic objectives. The general framework for Corporate Governance ensures equitable treatment for shareholders, and recognizes the established legal rights of both minority and foreign shareholders. It also guarantees the availability of timely and precise information in all material matters concerning the corporation, as well as the accountability of the Board of Directors to the Bank and its shareholders.
Arab Bank gives considerable importance to proper Corporate Governance practices. The Bank's Board of Directors is committed to applying and complying with the highest standards of professional competence in its activities. The Bank follows the guidelines of the Central Bank of Jordan and Jordan Securities Commission on Corporate Governance.
The Bank also observes the regulatory requirements of other countries in which it operates. Arab Bank was among the pioneers in the practice of Corporate Governance in the Arab region. In early 1996, the Audit Committee was established, and in 2002, the Bank created a special committee for Corporate Governance.