●● The Annual Report 2016 INDEX

INDEX

Who are We? 5 A Glimpse about Banque Bemo Saudi Fransi in 2016 6 Our Strategy and Work Values 7

BOD Word and Message 9 A Word by the Board’s Chairman 10 Board of Directors 13 Board Members 14 Main Duties 16 BOD Committees 18

Administration 24 Executive administration members 24 26 Managers of Branches and Sections Legal Consultants 30

Contributors 30 Founding contributors 30 Top Contributors 31

Organizational Structure at Banque Bemo Saudi Fransi 32 36 Commitment to apply the governance guide 36 Fundamental Events of the Year 37 Work Policies and Ethics 37 Conflict of Interest Policies Incentives Policy 37

Human Resources 38

Bank Risks 40

43 Fiscal Year in Brief Financial Statements 44 Mr. President Auditor’s Fees 46 Dr. Bashar al-Assad Branched Companies 48 President of the Syrian Arab Republic

Our Achievements: 51 Retail Banking 52

Loans 52

Risk Management 52

Human Resources 52

Department of Technology and Information 53

Corporate Credit Services 53 Future Plans 54

Press Activities 54 Social Responsibility 56

Branches and Partner Banks 159 02 03 ROOTAGE… WHO ARE WE? We challenged all circumstances and kept our distinction with more than ten years’ experience in the banking system in WHO ARE WE?

a variety of products and financial services that are aimed to fit the many social segments in Syria. In addition to providing our team with the required focus to maintain a competitive yet healthy working atmosphere, we also strived hard to plan special training programs, and develop advanced systems and banking programs that supported our HR section to achieve Distinction and Innovation.

OUR STRATEGY AND VALUES:

Strategy: To maintain its pioneering title among all private Syrian Banks, Banque Bemo Saudi Fransi presents all services and banking solutions that fit the needs of both individuals and companies while also providing comprehensive services especially made for foreign financial institutes. The competitive feature that Banque Bemo Saudi Fransi relishes on comes due to the bank’s strategically placed branches that cover all provinces in Syria.

Values: Banque Bemo Saudi Fransi strictly abides by a number of fundamental work values that determine the bank’s relationship with society, clients, shareholders and employees. These values encrypt and maintain the bank’s image within the community through the following:

Integrity Honesty and the highest of ethical standards are at the core of our work.

Discreetness A strict policy is what sets the rules for our workflow and safeguards what we do from possible A Glimpse on Banque Bemo Saudi Fransi in 2016 threats.

Since its establishment in 2004, Banque Bemo Saudi Fransi celebrated its 12th anniversary in January Obscurity 2016. These years of raging success earned the bank its title as a pioneer in private Syrian banking. We hold a firm grip to keep all our information classified and securely preserved. Despite the negative implications brought on to the banking sector by Syria’s status quo, Banque Bemo Saudi Fransi was able to thrive with victories. By providing aid to several charities, we have Innovation further developed the banks social and economic responsibility. Only the highest of professional and innovatory standards are what determine our work’s course

On the other hand, the Bank has achieved great success in 2016 despite the negative implications Social Responsibility brought on to the banking sector by Syria’s status quo, it has paved its way to success by providing We are a part of the Syrian community. Therefore, we strive to participate in making a difference by elevating all living standards, and our society’s well-being and economy.

06 07 TRUST… BOARD OF DIRECTOR’S MESSAGE

We mastered the banking system with the highest level of quality and professionalism, through our total faith in the importance of our clients, and complete trust in our employees BOARD OF DIRECTOR’S MESSAGE

A Word from the Board’s Chairman It is my utmost pleasure to welcome all of you in the name of Banque In conclusion, I can only present my gratitude and thankfulness to all of our dear partners, for your Bemo Saudi Fransi’s board of directors. And an honor to present constant support and aid for a better future. I would also like to express my appreciation to our clients the bank’s annual report that will guide you onto all of this year’s for their trust in our ability and vision of a better future. I also would like to thank the many institutions highlighted events and the bank achievements throughout the fiscal and the Central Bank of Syria for their continuous support, efforts and loyalty. year ending in 31/12/2016. It truly was a golden year and a conquered success … for Banque Bemo managed to achieve this status despite all economic difficulties and challenges. Riyad Abaji The bank held its position in the face of all the hardships confronting The Board’s Chairman the Syrian economy ranging from the foreign boycott, weakness of purchasing power to absence of public and private investments. The Syrian banking sector, being the main pillar of the Syrian Economy, stood its ground through the past six years, and even lowered the impact of economic deflation and international penalties. Banque Bemo Saudi Fransi managed in the midst of all this, guided by the strategic vision and effective leadership, to maintain its financial status and achieve a positive leap in the final financial report of 2016. The motive for all this growth and success is the trust of our respected partners and clients; they were the main power that kept us going throughout these challenges and keeping our pioneer status. However, maintaining that status required extra responsibilities from our clients, employees, society, and country. We proved to be up to that responsibility by far. Banque Bemo Saudi Fransi believes in the importance of supporting and further enhancing the national economy by offering banking services and products through all branches. Additionally, the bank has continued to provide banking facilities for all economic sectors, and opened a new branch last year in to serve more humanitarian organizations beneficiaries. Furthermore, we were able to find new investment channels that granted good return, developed the banking system, and further enhanced the human resources procedures. All these steps have positively affected the bank’s performance. Banque Bemo Saudi Fransi has also played a huge role in the social sector financing several training programs on self-sufficiency for war-affected families, and enhancing their professional abilities to help them find a good job. It has also participated in initiatives about financial and healthcare to support for people with special needs. It was of great importance that we get all the comments and notes of our dear partners through the already held meetings. For those ideas are the base of our future development policies.

10 11 ORGANIZATION… BOARD OF DIRECTORS

We provided the highest level of banking services in Syria through our highly experienced employees DIRECTORATE MEMBERS

Sir Bassam Memary / Deputy Chairman of the Board Sir Farid AlKhouri The board of directors elected in the year 2016 consists of the following members: ●● Syrian. Holds a Bachelor’s Degree in Business Administration ●● Syrian. Holds a Bachelor’s Degree in Business Administration from Caltech (California Institute of Technology), United States of from Baldwin Wallace University, United State of America. America. ●● General Director at Attanmiah Agricultural Company. ●● Director at AlMemary Salt Works Company. ●● Became an independent member in 30/10/2016. Elected in the Doctor Riyad Abaji / The Board’s Chairman Sir Yordan Abaji ●● An independent member. Elected in the general authority on general authority on 15/3/2016. 15/3/2016. ●● Syrian. Holds a PHD in Economics from Université de Lyon, with ●● Syrian. Holds a Master’s Degree in Business Administration from over 33 years of experience in bank management.Chairperson Paris Dauphine University, with over 38 years of experience in for the Board of Directors in Banque Bemo Lebanon and Bemo managing banks and industrial companies. Miss Fatina Al-Lahham Sir Raed Abu AlNasr AlBasatneh Europe in Luxemburg. ●● Chairperson of the Obegi Better Home. And executive director for ●● A dependent member. Elected in the general authority on Obegi Chemicals. ●● Syrian. Holds several degrees in leadership and management ●● Lebanese. Holds a degree in Political Science and Economics 15/3/2016.. ●● A dependent member. Elected in the general authority on from Canada and the UK. Has experience in project management from Concordia University in Canada. 15/3/2016. and training. ●● Chairperson of BB Naft Trading Company and Prime Oil ●● Project manager in the British Cultural Council. Company. And Directorate Member in Global Oil Industrie ●● A dependent member. Elected in the general authority on ●● An independent member. Elected in the general authority on Sir Mehran Yerwant Hazar / Vice Chairman Sir Haytham Al-Farra 15/3/2016. 09/06/2014

●● Syrian. Holds a Bachelor’s Degree in Business Administration ●● Syrian. Holds a Bachelor’s Degree in Civil Engineering and from Jones College, Jacksonville, United States of America. a Bachelor’s degree in Industrial Engineering from Houston ●● General director for AlAmin Medical Instruments – Amico Group University, United States of America. Holds a Master’s degree – in Saudi Arabia, Emirates, Egypt, Qatar, Oman, Bahrain, in Business Administration from St. Thomas University, United Banque Bemo – Lebanon S.A.L / Kuwait, Syria, Lebanon, Jordan, Iraq and Iran. States of America. Represented by Sir Samih Saade ●● An independent member. Elected in the general authority back on ●● Partner and General Executive director in Khalil Al-Farra’s ●● Lebanese. Holds a Master’s Degree in Business Administration 15/3/2016. Engineering Consultant Office. from the American University of , with 37 years of ●● Resigned 28/8/2016 ●● An independent member. Elected in the general authority on experience in bank management. 15/3/2016. ●● Executive Director at Banque Bemo Lebanon ●● A dependent member. Elected in the general authority back on 15/3/2016.

14 15 THE BOARD OF DIRECTORS’ MAIN DUTIES

• Set a structure that assures sufficient and active supervision. • Evaluate the BOD performance as a whole, the performance of the executive manager, and the committees. • Evaluate how sufficient the financial reporting and inner financial supervision systems are. • Bank performance review, work assessment, good management, specify deviations, analyse the causes, determine people in charge and issue the needed instructions to fix and avoid repetition. • Accredit and observe the policy of compliance, supervise its preparation and development, make sure it is applied by the compliance observation section in the bank. • Revise the executive administration reports and recommendations about developments and improvements and enhance the bank disclosure and other procedures. • Call for annual general assembly and special assembly, set their schedule and execute their decisions. • Nominate executive managers and vice managers. • Establish branches for the bank. • Define the bank’s policy in all investment fields. • Set the internal system to organize financial, accounting and administrative issues. • Prepare the general budget, profit statement, losses, financial flow statement and disclosures compared to previous financial year, all accredited by the bank financial auditor. • Prepare the annual report for BOD. • Review deals with parties that are not in the domain of the bank's regular work. • Ratify the bank goals, strategies, plans and important policies in a clear, specific and periodical way, and providing guidance and supervision to the executive administration that is responsible for daily operations. • Accredit the accuracy and inner supervision systems, especially the audit agreement about recording the tasks, terms and responsibilities of the audit administration, and making sure that those systems are effective. • Ensure that the bank complies with the strategies, plans, policies and procedures required or accredited by laws and instructions, ensure that the executive administration revises performance accomplishments according to work plans and takes the needed correctional procedures, and managing the bank's risks correctly. • Accredit the organizational structure suggested by the executive administration indicating the administrative sequence (including the council committees and executive administration). • Accredit the inner systems and regulations regarding the bank’s work and development, specifying tasks, specializations, duties, responsibilities, relations and subordinations between different organizational levels.

16 17 BOD COMMITTEES

The Board of Directors has formed the following committees: 2. Risk Management Committee: 1. Nomination, Remuneration and Human Resources Development Committee: committee Member’s Name Post Number of Meetings Sir Bassam Memari Chairman committee Member’s Name Post Number of Meetings Member of the Sir Riyad Abaji Committee Chairman Sir Mahran Hazar* Member of the Sir Farid AlKhouri Committee Chairman – Member of Member of the Sir Farid AlKhouri** the Committee Sir Samih Saade Committee Member of the Member of the Risk Management Sir Haitham AlFarra 5 Meetings during the Year Sir Riyad Abaji Committee Committee Committee 2016 Member of the Member of the Miss Fatina Lahham Committee Sir Bassam Memari Committee Sir Raed Abu AlNasr Member of the Nomination, Remuneration Member of the 5 Meetings in the Year Albstane Committee and Human Resources Sir Haitham AlFarra Committee 2016 Development Committee Sir Bertrand Feryot Consultant Member of the Doctor Nabil Sekkar Consultant Miss Fatina Lahham Committee Sir Wissam Kamila Committee’s Secretary Sir Raed Abu AlNasr Member of the Committee The Risk Management Committee’s Main Duties: Albstane Here are some of this committee’s duties: Revising all strategies and policies of risk management before getting them approved by the Board of Directors, Sir Bertrand Feryot Consultant ●● and making sure they are executed. ●● Ensuring the availability of adequate resources and systems for risk management. In addition to the committee’s Miss Nada Saliba Committee’s Secretary employees’ independency from activities that put the bank under risk. ●● Revising periodic reports on the risks that might affect the bank, their size, and measures *Sir Mahran Hazar has been this committee’s Chairman until his resignation on 28 Aug 2016. ●● Revising and expressing opinions in front of the Board of Directors, concerning the risk’s maximum effect and **Sir Farid AlKhouri was nominated Chairman by the Board of Directors after Sir Hazar’s resignation. exceptional cases. 3. Governance and Compliance Committee committee Member’s Name Post Number of Meetings

Sir Riyad AlAbaji Chairman The Nomination, Remuneration and Human Resources Development Committee’s Main Duties: Member of the Sir Samih Saade Here are some of this committee’s duties: Committee Member of the Sir Mahran Hazar* ●● Setting standards and conditions for required experience, qualifications and skills for being part of the BOD and Committee CEO. In addition to annual revisions of these criteria to ensure that they abide by current laws, regulations and Member of the instructions. Sir Haytham AlFarra Governance and Committee 2 Meetings during the Year ●● Recommending nominations and re-nominations for membership in the Board of Directors and CEO or cancelling Compliance Committee 2016 Member of the a membership. Miss Fatina Lahham ●● Identifying executive members, non-executive members, independent members and ensure their independencies. Committee ●● Adopting comprehensive standards to evaluate the Board of Director’s and the committees effectiveness as a Sir Raed Abu AlNasr Member of the whole and evaluating CEOs. Albstane Committee Ensuring that all members of the BOD acquired the needed training and constant orientation. ●● Doctor Nabil Sekkar Consultant ●● Setting conditions and standards for nominating CEOs and evaluating their performance and setting a replacement plan. Miss Nada Saliba Committee’s Secretary ●● Recommending the BOD to omit the nomination of any CEO should he prove to be ineffective in fulfilling his duties and responsibilities. *Sir Mahran Hazar has been a member of the committee until his resignation on 28 Aug 2016 ●● Ensuring the existence of clear policies for salaries, rewards, compensations, or any other benefits of the Board The Governance and Compliance Committee’s Main Duties: of Directors and CEOs. Here are some of this committee’s duties: ●● Supervising the making and execution of the Governance Guide while revising and updating it when necessary. ●● Coordinating with the Audit Committee to ensure compliance with the guide. ●● Ensuring the existence of clear policies for the bank’s compliance with international policies and rules that include safety and supervision.

18 19 BOD COMMITTEES

4.The Audit Committee 6. The Credit Committee:

committee Member’s Name Post Number of Meetings committee Member’s Name Post Number of Meetings

Sir Bassam Memari Chairman Sir Riyad Abaji Member of the Chairman Sir Farid AlKhouri Committee Member of the Member of the Sir Haytham AlFarra Sir Bassam Memari Committee Committee Sir Raed Abu AlNasr Member of the 4 Meetings During the Audit Committee Member of the Albstane Committee Year 2016 Credit Committee* Sir Samih Saade Meetings Held by Email Committee Member of the Miss Fatina Lahham Committee Member of the Sir Farid AlKhouri Miss Mirna Sufan Consultant Committee

Sir Ammar Hifta Committee’s Secretary Miss Nada Saliba Committee’s Secretary

The Audit Committee’s Main Duties: *This committee is optional. It is no longer a part of the Board of Directors on November 30 – December 1, 2016. Here are some of this committee’s duties: ●● Revising financial reports and control systems. In addition to interior and exterior auditing’s results, adequacy and range. And revising the accounting issues’ essential effect on financial statements. ●● Revising suggested auditing plans made by the internal auditor. ●● Recommending, evaluating, and setting compensation for the Internal Auditing Manager. ●● Recommending, evaluating, setting compensation for the external auditor. ●● Deciding whether the external auditor can provide services other than periodic auditing, and ensuring it doesn’t affect the auditor’s independent opinion.

5.The Real Estate Committee:

committee Member’s Name Post Number of Meetings

Sir Bassam Memari Chairman Member of the Sir Farid AlKhouri Committee Member of the Sir Haytham AlFarra Committee 2 Meetings During the Real Estate Committee* Member of the Year 2016 Miss Fatina Lahham Committee Sir Raed Abu AlNasr Member of the Albstane Committee

Miss Nada Saliba Committee’s Secretary

*This committee is optional. It is no longer a part of the Board of Directors on November 30 – December 1, 2016.

The Real Estate Committee’s Main Duties: Here are some of this committee’s duties: ●● Providing the board of directors with reports and recommendations annually. ●● Ensuring the availability of safe procedures and policies for organizing all operations related to real estate, that include: o Organizing procedures of dissolving all quotations of buying, renting, selling, lease, cladding, and improvements for the leased. o Organizing procedures that ensure the estate’s ready for banking use legally and commercially. o Organizing procedures for all contracts of buying, leasing and selling of estates.

20 21 THE CREDIT COMMITTEE’S MAIN DUTIES:

Here are some of this committee’s duties:

●● Authenticating all credit files in accordance to specific limits put by the BOD’s policies, procedures and decisions. The committee does not take any executive action.

Attendance of BOD members to the meetings of BOD council and its committees

Nomination, Governance Remuneration and Member’s BOD Risk and Audit Human Resources Real Estate Name Meetings Management Compliance Committee Development Committee Committee

Riyad Abaji 6 5 5 2 - -

Bassam 6 5 5 - 2 3 Memari

Yerdan 6 - - - - - Obegi

Fatina 6 3 4 2 2 1 Lahham*

Haytham 6 3 5 2 2 4 AlFarra **

Farid 6 5 5 - 2 3 AlKhouri

Samih Saade 6 - 5 2 - -

Raed Abu AlNasr 5 3 3 0 2 2 Albstane * Approved performance standards to evaluate the efficiency of the BOD as a whole and the Mahran 3 3 - 1 - 1 Hazar** efficiency of each member individually

The members of the BOD evaluated the performance of the BOD as a whole, the committees, *elected for the first time to BBSF’s Board of directors on 15/3/2016 and individual members: **Sir Mahran Hazar resigned 28/8/2016. ●● Governance of the Board of Directors ●● Efficiency of Committees ●● Financial indicators and the bank’s commitment to legislation and laws ●● Supervising administration and their vision ●● Professional Development ●● Social Responsibility ●● Relations with organizations and corporations

22 23 MEMBERS OF THE LINE MANAGEMENT

●● Sir Joseph Raffoul ●● Sir Andre Lahoud ●● Sir Imad Chhaimi ●● Sami AlMunir ●● Executive Chairman ●● Secondary Vice Chairman ●● Assistant Director General – Treasury and Banking Relations ●● Assistant Director General – Retail Management

●● Lebanese. Holds Bachelors of Economics and a Diploma in ●● Lebanese. Holds a Diploma in Banking, and a Diploma in ●● Lebanese. Holds a Diploma in Financial and Banking Business ●● Syrian. Holds a Bachelor’s Degree in Business Administration & Economic Studies. Accounting and Business. Administration. Public Administration from Louisiana University, United States of ●● More than 50 years of experience in Bank Management ●● Over 31 years of experience in Banking in Syria and Lebanon. ●● 34 years of experience in the banking sector, specifically in the America. .Joined Banque Bemo Saudi Fransi in 2016 ●● Joined Banque Bemo Saudi Fransi in 2004. treasury and foreign exchange. ●● Over 12 years of experience in banking. ●● Joined Banque Bemo Saudi Fransi in 2010. ●● Joined Banque Bemo Saudi Fransi in 2004.

●● Sir Omar AlGhrawi ●● Miss Nada Saliba ●● Miss Yara Suleiman ●● Sir Khaled Abu AlBurghol ●● Primary Vice Chairman ●● Assistant Director General – Debt Management and Trade Finance ●● Assistant Director General – Institutional Credit Management ●● Assistant Director General – Operations Management and Support

●● Syrian. Holds a Master’s Degree in Business Administration from ●● Syrian. Holds a Master’s Degree in Business Administration from ●● Syrian. Holds a Master’s Degree in Business Administration ●● Syrian. Holds a Master’s Degree in Banking and Finance from the University of Chicago, United States of America. the ESA in Beirut, Lebanon. and a Bachelor’s Degree in Business Administration & Public Purdue University. ●● 12 years of experience in financial services, as well as banking ●● Over 19 years of experience in Credit and Financial Administration from the American University of Beirut. ●● Over 12 years of experience in banking and finance. and investment operations. Administration. ●● Over 12 years of experience in banking. ●● Joined Banque Bemo in 2005. ●● Joined Banque Bemo Saudi Fransi in 2015, after being the ●● Joined Banque Bemo Saudi Fransi in 2014. ●● Joined Banque Bemo Saudi Fransi in 2004. General Director of Bemo Finance for 8 years.

24 25 MANAGERS OF BRANCHES AND SECTIONS

Department Managers Unit Managers

Name Position Name Position

Ayman Tahhan Dept Head - Compliance & Governance Dana AlSamman Unit Manager - BoD Admin & Shareholders Affairs Antoun Bashour Compliance Deputy Manager Fatca Bashar Ahmad Unit Manager - Retail Bank Remedial Ammar Hefteh Dept Deputy IA Head - Acting IA Head Hind Tannous Unit Manager - TF Coastal Region / Tartous Layla Boulad Deputy Head - CBD Laura Faraj Unit Manager - LG Bashar Skaf Deputy Head - CBD Omar Arnous Unit Manager - Info Security / IT Risk Roufan Rustom Acting CFO

Khalil Ein Chaybeh Unit Manager - Operational Risk Wissam Kamleh Head of Risk Management Department

Head of Project Management and Business Christa Khoury Unit Manager - Nostros Reconciliation Karim Fehde Development Lamia Zabalawi Unit Manager - CBK and External Reporting Salma Al Samman Dept Head - HR & Staff Dev

Majd Dummar Unit Manager - ALM Acc. & Financial reporting Saad Al-Zabibi Dept Head IT & Communication

Amer Faddoul Dept Manager - Bank Remedial Madona Chaklo Unit Manager - Governmental Duties

Nesrine Sobeh Dept Manager - Trade Finance Mohammad Samer Sbahi Shahin Unit Manager – Human Resources

Muataz Billah Kassar Dept Manager Treasury Manal Shaaban Unit Manager - Services Unit

Abdullah Hamdan Dept Manager - Credit Risk Jan Hakimeh Unit Manager - Archiving

Yazan Al Hawat Department Manager - Bank Control Johnny Darwish Unit Manager - Procurement & Marketing Fadlo Abouassaleh Dept Manager - Premises & Services Fayad Mansour Unit Manager - Premises & Maintenance Rita Saadeh Dept Manager - CAD Fadi Ober Unit Manager - Insurance & Contracts Maria Khaled Dept Manager - Ops Salim Dahdouh Unit Manager - Banking System Shaza Maamar Dept Manager - E-Banking Services Mohanad AL -Salti Unit Manager - Network & Communication & ATM Joumanah Diab Dept Manager - Retail Credit Suzan Moukaabari Unit Manager - Policy & Procedure Alaa Dek Al Bab Retail Efficiency Department Manager

Mohannad Knefed Regional Manager – Damascus/Southern Area Majd Zraibi Unit Manager - E-Banking Services & Call Centre

Mazen Isper Regional Manager - Coastal Area / Eastern Area Hanan Al Safadi PR unit Manager

Akram Jabbour Regional Manager - Central Area / Northern Area Lily Al Teen Unit Manager - Retail Sales

26 27 MANAGERS OF BRANCHES AND SECTIONS

Branch Managers

Name Position

Randa Kabbany Retail - Cham Main Branch

Ghassan Badin Retail - 29 Ayyar Branch

Waleed Al Kayal Retail - Abasyeen

Dany Faddoul Retail - Bab Toumah Branch

Omar Mardini Retail - Mazzeh Branch

Nadim Al -Batal Retail - Dummar Branch

Bashar Hussein Retail - Harika Branch

Ahmad Jamil Jabal Retail - Main Branch

Shaza Rahhal Retail - Fourkan Branch

Myriam Nahhas Retail - Sleimaniah Branch

Ahmad Khaled Retail - Branch

Sameer Al Kurdi Retail - Hadara Branch

Kinan Assi Retail - Safita Branch

Soubhi Zaitoun Retail - Hwash Branch

Waleed Saied Retail - Hasakeh Branch

Noura Shammas Retail - Kameshli Branch

Ali Jarad Retail - Branch

Ahmad Ismail Retail - Banias Branch

Feras Ajeeb Retail - Lattakia Main Branch

Ayham Younes Retail - Lattakia 2 Branch

Bahgat Zaiter Retail - Tartous Main Branch

Wehad Sliman Retail -Tartous 2 Branch

Sarmad Azar Retail - Jaramanah Branch Legal Consultants Al Hakim Office Ghassan Jbour Retail - Sweida Branch

28 29 LEGAL CONSULTANTS

Shareholders: Top Contributors

27%

43.49%

22%

7.51%

Banque Bemo Saudi Fransi

Banque Bemo Lebanon

The Abaji Family

Shareholders

30 31 ORGANIZATIONAL STRUCTURE

Organizational Structure at Banque Bemo Saudi Fransi

Board of Directors Secretary

Internal Banking Auditor

Credit Committee

Compliance & Governance Committee Compliance & Governance Directory Executive Director

Nomination, Remuneration & HR Development

Committee

Vice Executive Director Risk Management Committee Risk Management Directory

Real Estate Commission

The Audit Committee Internal Audit Committee

32 33 ORGANIZATIONAL STRUCTURE

Executive Director Joseph Raffoul

Omar el-Ghrawi Vice Executive Director General Director-First Assistant Andre’ Lahhoud

Institutional Credit Administration Yara Sleiman Assistant General Director

Collateral Loans and Institutional Human Resources and Development Unit Development Administration Salma al-Samman Internal Audit Administration Yazan Hawwat

Business Development and Projects Administration Unit Karim Fahdeh

Financial Administration Operations and Support Administration Retail Administration Loan Defaulted Administration, Rofan Rustom Khaled Abou Borghul Sami El-Munir Commercial Financing Legal Affairs Assistant General Director Assistant General Director Nada Saliba Assistant General Director

Treasury and Bank Relations Administration Imad Shheimi Assistant General Director

34 35 GOVERNANCE GUIDE

The Bank’s commitment to the governance ●● The BOD has authenticated the substitution policy euros and 50 thousand dollars, it was reported to guide for executive directors, job description for executive specialized authorities and the insurance company. directors and the BOD secretary. The bank and the bank’s BOD are committed to ●● All BOD members, new members and the BOD apply the governance guide because of its impact on secretary had an introductory session about the Work Policies and Ethics: contributors’ interests and rights, in accordance with the importance of commitment and the basic principles valid laws and regulations in Syria. to fight money laundering and terrorism financing, ●● BBSF is committed to the highest professional and administration according to the annual work Here is a general summary about the bank’s application and to give an idea about the structure and tasks of ethical standards of behaviour. The special behaviour results and the related sections' performance. The of the governance guide: risk management at the bank. and ethics convention of BBSF presents the basic executive administration determines the employees’ ●● The above mentioned conditions were taken into ●● The BOD carried out an overall performance instructions for work and personal behaviour that incentives depending on their annual performance consideration in the bank’s governance guide evaluation for the bank, affiliating committees, each should be fully carried out by all BBFS employees. evaluation, goals achievements, the bank’s when the BOD was formed. All BOD members are of the BOD members, and the executive chairman. policies and procedures commitments, and yearly non-executive members, there are six independent Evaluation was based on several basic and The essential concept of the behaviour and ethics development. members out of nine. There is no kinship relation important standards. The BOD has also discussed convention: between the chairman of the board and the the evaluation final results and took the required ●● Integrity is something employees of BBSF should executive chairman. The BOD chairman as the procedures to enhance the board’s and committees’ never give up for personal gain or tangible profit legal personality representative should not be the effectiveness. because it would largely affect the reputation of the chairman of more than two contributor companies ●● The bank is committed to written standards bank’s work in general. in Syria, BOD members should not be members in concerning disclosure and transparency. This ●● All the employees of BBSF should follow the more than five contributing companies in Syria. includes a set of procedures, instructions, and the behaviour and ethics convention, other policies ●● The council has formed the emerging committees suitable mechanisms to be committed to disclosure mentioned, additional policies applied to the work of in accordance with the required conditions to form requirements according to the bank’s system. all employees, and the essence and text of all laws each committee, and set the work convention for ●● The bank’s fundamental events were disclosed to and regulations. Any violation of the ethics convention the forming of each committee stating its period, the Syrian Commission of Financial Markets and and/or other related policies, laws or regulations will privileges and responsibilities. All committees were Securities, Damascus Securities Exchange, and cause disciplinary actions, including dismissal and committed to reach the number of required meetings published on the bank’s website. taking legal procedures. throughout the year, and each committee presented ●● The people responsible of disclosure to the Syrian ●● The employees and administration of BBSF are an overall report about its work to the BOD. Commission of Financial Markets and Securities, are committed to apply all the procedures and policies ●● The BOD had six meetings throughout the year, and committed to disclosure when making any purchase followed at the bank, and strive to achieve the members were supplied with the meeting schedule or selling of the company’s stocks within a week of bank’s goals and mission. enhanced by needed information and documents the transaction. long before the meeting so that they can revise the ●● Disclosure of statements and periodical summaries Conflict of Interest Policies: discussed subjects. The BOD secretary prepared presented by the executive chairman and directed and documented the meetings and the decisions to contributors, financial analysts and journalists are Conflict of Interest happens when the objectivity and taken. published through the bank’s website. independency of an employee or a board member’s ●● The bank is committed to separate the responsibilities ●● Two general assemblies were held throughout the decision collides with a personal fiscal or moral of the BOD chairman from the executive chairman year, and the bank was committed to announce the interest that is personally related to the person or to according to the BOD’s written instructions clarifying date of holding each assembly, its place and schedule a relative, or when his/her performance is affected all bank transactions within the board’s jurisdiction and 14 days ahead at least. It should be announced directly or indirectly by personal considerations, with its consent. Regulations indicate (the minimum) twice each time in two daily magazines and on the or by the knowledge of information related to the experience, qualifications and skills required for the company’s website. decision. BOD membership and for the executive chairman ●● The BOD’s annual report presented by the public Interests collision policy was accredited to ensure post. commission includes all the governance guide items objectivity of decision taking, and to decrease the ●● The BOD carried out its activities throughout the mentioned above. interests’ collision that could emerge. This policy is year by setting goals, strategies, plans and important applied to each person working for BBSF, including policies of the bank, accredited the organizational The fundamental events of the year the BOD members, the bank’s managers, the structure suggested by the executive administration employees, the external counsellors, and auditors. about the administrative sequence including the ●● The public assembly that was supposed to take board’s and the executive administration committees, place on the 11th of January 2016 was postponed Compensations and incentives policies in the the bank has also accredited the annual and quarterly due to some nomination requests by the Central bank fiscal data, analysed and discussed the bank risk Bank of Syria, and it was held to elect a new BOD on data and statistics. the 15th of March 2016. ●● The public commission of contributors determines ●● According to periodical reports of the executive ●● The ordinary public commission of BBSF was held the attendance remuneration of the BOD members, administration and internal and external audit, the on the 27th of April 2016. and their incentives depending on the Board’s BOD revised the bank performance, evaluated its ●● The Central Bank of Syria approved the designation suggestion. work and management, specified deviations and of Mr. Joseph Raffoul as the executive chairman of ●● The BOD determines the salary, incentives and analysed their causes, decided the consequences, BBSF on the 14th of June 2016. compensations of the executive chairman, this also the needed instructions, and precautions for dealing ●● Mr. Mahran Yerwant Hazar resigned on the 28th of applies to executive managers. with them. August 2016. ●● Employees salary is decided according to their ●● The bank was the subject of fraud for 88,450 position and work level. ●● The BOD determines the incentives of the executive 36 37 HUMAN RESOURCES

Human Resources:

●● Despite the difficult times in 2016, the bank insisted on providing full support to their employees. This also caused some resignations that were mostly because of traveling. ●● The educational level of the bank's employees at the end of 2016 is shown below: ●● Banque Bemo Saudi Fransi made sure to choose the best candidates and consistently worked on training them through constant lectures that address all the banks issues. ●● The following table shows the number of employees in the last two years:

Human Resources 31-12-2015 31-12-2016 Percentage change

Number of Employees 565 584 3.36%

Location Number ●● Employees are subjected to intensive training courses on all subjects to further develop their skills and maintain their knowledge and experience. General Administration 285 ●● The following figure shows the type of training for employees of the bank in 2016 and the percentage of employees that participated: Branches 299

Total 584 Training Courses for the year 2016:

38 39 HUMAN RESOURCES

Risks facing the bank the targeted distribution of credit and operationals levels within the current laws and instructions. should cover a fixed rate of 15% at least of the total to several sectors and different markets along with average income during the three previous years. There are several risks facing the bank activities, which focusing on promising sectors, the bank has a The bank prepares sensitivity analysis to monitor the makes risk management basic in maintaining the bank’s classification system for economic sectors risks. changes on the net profits and losses in case of any solidarity and profitability. reasonable change in exchange rate with keeping other Methods of reducing operational risks: Risk management includes recognizing, measurement, The bank depends several policies to reduce credential variables stable. administration and constant supervision on financial and risks like monitoring credential sums according to the The bank takes great care reducing low potential incorporeal risks that may negatively affect the bank’s economic sectors, geographic areas and guaranties, operational risks that lead to high financial losses, the performance and reputation, in addition to granting and take precautions and corrective measurements Stocks rate risks: bank determines those risks and separates them into effective distribution of capital to reach the best average when needed. two types: of returns versus risks. The bank is subject to those risks because of ●● Controllable operational risks, which allows The bank risks have the following main types: In addition, the bank tries through its credential sections operational in stocks. determining the range of affordable losses, or ●● Credit risks. and credit grant committee to obtain suitable guaranties The stocks rate risks represent the fair decrease of determine the range of moving some of the bank’s ●● Market risks. to cover credential threats, those guaranties are chosen stocks value in operational portfolios due to the possible activities to an outer specialized side within clear ●● Liquidity risks. depending on each customer activity and the type and reasonable changes in stocks prices indicators and contacting frames in which the outside party is ●● Operational risks. value of facilitation given. individual stocks value. responsible for possible operational risks, and ●● Technological and information security risks. determine the range though which the bank could ●● Supervision authority obedience risks. seek insurance companies. Market risks: Liquidity risks: ●● Uncontrollable operational risk, the bank here should either reduce or cancel its activities subject Credit risks They emerge due to the fluctuations in interests rate Represented in the bank’s inability to provide the to such kinds of risks. Or move those activities to and exchange rates. required finance to carry its commitments when due. an outside party or seek insurance companies. Credit risks emerge when the other party fails to make The BOD adopts higher standards for the value of the required payments to the bank which leads to acceptable risks, and monitors the change in prices and The administration depends on diverse resources of losses. here are three types of credit risks: the other compares that to the limit on daily basis. finance in addition to deposits and assets administration Operational risks policies: party failing, settlement risks and the country risks. to avoid those risks, in addition to taking liquidity into consideration and monitoring it on daily basis. The bank Those policies determine the way to deal with causes The main factors for effective management of risks are: Interest rate risks: also evaluates the future financial flows and provide the of possible losses that might take place due to the guaranties that can be cashed when needed. bank practice of its variable activities in what is called ●● Finding a suitable environment for credit risks They emerge from the possibility of interest rates “operational accidents” happening because of human management. change effect on the bank profits or on the value of The bank keeps its assets that are possible to turn mistakes, weakness in the internal procedures or the ●● Work within a clear and correct frame for approvals financial tools. The bank is exposed to interest rate risks into liquidities as protections against any unforeseen mechanical system, or external effects like disasters or and jurisdictions. due to incompatibility or the gap between the assets lack in liquidity. The bank also reserves an obligatory fraud. The policies and procedures determine the way ●● Maintaining a suitable risk management, and and liabilities according to each period, or to reviewing deposit at the Central Bank of Syria equals 10% of the to limit and measure those risks and to make sure they provide tools and techniques for measurement and interest rates during a certain period. The bank bank capital, and obligatory reserve equals 5% of the are either eliminated or in its lowest acceptable level, supervision. manages those risks through reviewing interests rates customers’ deposits. and work on taking all possible precautions to avoid ●● Making sure that there are enough restraints on on the assets and liabilities. such risk by moving possible risks to a third party or to credit risk management procedures. The liquidity monitoring and measurement is taken for the insurance companies depending on the case dealt The management of the assets and liabilities includes natural and emergency circumstances, its proportion is with. To reach the above, the bank sets a clear credit policy some limits for the sensitivity of interest prices, the measured according to the Monetary and Credit Council includes a limit for accredited credential facilities (for assets and liabilities committee studies the risks of decision no. 588 issued on 22 November 2009. an individual or an institution) and the total credential interest rates through periodical meetings, all gaps of Technology and information security risks: facilities for each sector and area. The bank works assets and liabilities benefits, its affect by the prevailing The bank keeps limits for the net exchanged assets on monitoring credit risks and constantly works on and expected interest rates, comparing the acceptable proportion to the customers’ liabilities and commitments The management of technology and information evaluating the credential status of customers, in addition limits and apply precaution strategies if needed. out of the weighed budget. security risks aims to study the information security to having suitable guaranties from the agents. risks of the bank, its customers and employees, with All negative effects due to the decrease or increase providing the suitable recommendations and systems Methods to reduce credential risks: in interests rates are eliminated through risks Operational risks: and programs and services periodical evaluation, management strategies, interests gaps are continuously and determine the level of jurisdiction in each of the Risk management operation in the bank depends monitored and compared to the acceptable gaps by the Represent the bank losses due to a defect in policies administration positions. In addition to preparing policies several methods to reduce risks such as: bank policies. and work procedures, human defect, financial and procedures of information security and making sure ●● Guaranties, the possibility of turning it into cash and systems and technological structure, in addition to it is committed to in the bank. its coverage of the granted credit which is always outer incidents, those risks can be measure by using supervised and evaluated. Exchange rate risks: statistical methods that goes along with the nature of ●● Have committees system concerning credit granting, the bank operations. The bank cannot eliminate all depending on the size of the agent portfolio, the Represented in the monetary tool value change due to operational risks but can administrate them through a claim and the agent risk. exchange rate change, the bank considers the Syrian comprehensive supervision system and following up on Diversity of portfolios is a basic principle in credential pound its basis currency, the management sets limits potential risks. risks reduction. The annual plan of the bank guaranties to currency centers, and monitor those centers on daily basis to make sure they don’t exceed the determined The bank depends the Basic Indicator Approach according to Basil Convention2; the bank’s private funds 40 41 EXPERIENCE… FISCAL YEAR IN BRIEF

We enhance customers’ relations through our rich experience FISCAL YEAR IN BRIEF

Million SYP

Net Income (including unrealized gain/loss)

Million SYP

Net Income (including unrealized gain/loss)

Net Income (excluding unrealized gain/loss) Customer Deposits Million SYP

Customer Deposits Net Income (excluding unrealized gain/loss)

44 45 FISCAL YEAR IN BRIEF

Total Assets Loans and Advances

Million SYP Million SYP

Total Assets

Loans and Advances

Equity ROE

Million SYP Million SYP

Equity

ROE Auditor’s fees

The auditors’ fees for the bank have reached 34.500.000 SYP during the year 2016, and for the BBSF financial company, the auditors’ fees have reached 1.200.000 SYP.

46 47 BRANCHED COMPANIES

Bemo Saudi Fransi Finance (BBSF): ●● Providing the latest market information ●● Issuance of Franchising Shares Managing Assets: based on extensive research. and Convertible Shares and Bonds: Bemo Saudi Fransi Finance is a stockbrokerage Structuring and managing the issuance of ●● Discretionary Mandates: The investor firm, authorized by the Syrian Commission Consultancies: grant stocks. In addition to a broad range fully authorizes the investment manager to on Financial Markets and Securities, with a of complex convertible issuances (from carry out all purchases thus allowing the focus on presenting financial consultations, ●● Mergers and Acquisitions: Provide privilege to regular, bonds to regular shares, investor to gain experience and flexibility in interventions, researches, ensuring capitals consultancy to both the buyer and the etc.) decision making in a changing market. (managing versions) and managing assets seller. ●● Issuing Company Bonds: Managing including safeguarding stocks. ●● Private Investment: Provide consultancy the entire bond issuance process for ●● Non-Discretionary Mandates: An and attract private investment opportunities the shareholding companies, including advisory authority that allows investors to BBSF or Banque Bemo Saudi Fransi is the on regional and global scale. consultancy on appropriate structuring, benefit from views and recommendations first pioneering private bank in Syria. It was ●● Fair Assessment and consultancy: pricing and bidding strategy. of the investment manager while still established according to the stated regulations, Independent assessment for public and reserving the final purchase decision and therefore paved the way for building the private companies. In addition to providing Syrian Stock Market. fair consultancy to both the buyer and the Researches: BBSF Board of Directors and CEO: seller in mergers and acquisitions. Mr. Riyad Abaji. The Board’s Chairman Being the number one member in Damascus ●● Joint Projects: Aiding local and ●● Macroeconomics Research: Covering the ●● stock market, central clearing and depository international companies in executing latest economic trends including ongoing ●● Mr. Imad AlFadel. The Board’s Vice center, BBSF is the forefront of all Syrian strategic procedures and partnerships, tax, monetary and legal reforms. Chairman, representing AlFadel Group. financial services companies. for the capitalization of resources and ●● Mr. Farid Khoury and Mr. Omar AlGharawi. capabilities of all partners. ●● Sectoral Studies: Covering current and Member of the Directorate. Representing Banque Bemo Saudi Fransi. The consultancy services and capital insurance ●● Financial structuring consultancy for future performance of the most important provided by the company has gained the Family Businesses: Provide companies sectors contributing to the country’s GDP. ●● CEO (Unregistered) appreciation of many publications and earned with phrasing and continuous work plans, global awards. especially those intending to turn into ●● Analytical Reports on the Capital Market Bemo Saudi Fransi Finance: shareholders companies. and Shares of Listed Companies: Financial Services Provided by BBSF: Provide background information about Ziyad ibn Abi Sufyan St. – Tiliani Capital Insurance: the concerned companies as well as PO box: 33357, Damascus – Syria Financial mediation: their future expectations. The reports Tel: +963 11 3354111 ●● IPO Management: Managing initial public also include an analysis of the corporate Fax: +963 11 3354112 ●● Trading securities in the local market. offerings (IPO) for shareholding companies strengths, weaknesses and expectations Executing daily open trading orders. E-mail: [email protected] ●● under establishment, and private companies of future development as well as Website: www.bsff.com ●● Executing block trades. converting into public companies. recommendations for investors. Facilitating transactions for unlisted shares ●● ●● Subsequent Stocks Issuance: Managing (OTC Market). capital overflow through issuing priority ●● Executing reliable and temporary settlement rights and providing “free” stocks. procedures.

48 49 COMMITMENT… ACTIVITIES AND ACCOMPLISHMENTS

Commitment to our values and principles is an inseparable part of our work ACHIEVEMENTS AND ACTIVITIES

best compatible international practices. Those principles ●● Iftar gathering for all employees of BBSF. Most studies, experiments and execution were led by Retail Banking are basically represented in the BOD’s strategies and ●● Bank training for BBSF’s second and third batch. the major efforts of the Department of Technology and directions, through the risk management committee, and ●● Offering banking training certificates for all BBSF Information in BBSF, along with the participation of the BBSF Mobile Service: allows clients to manage their through the risk management policies accredited by the employees during the Iftar gathering. rest of the bank’s departments. accounts and banking transactions through their mobiles. council. ●● Scholarship of the deceased George Abaji for Higher This project’s execution required a foundational change The risk management department carries out its duties Education. in the bank’s structure. The number and types of servers, Housing Loan independently to fulfill its tasks and to guarantee full ●● A certified managerial program for all branch their mechanism, the nature of programming, and used commitment to the supervision regulations. The bank risk managers. operational systems had to be changed. This loan aims to finance individual employees and management policies aim to create awareness about all ●● IQUAD Learning Solutions Special Award 2016. And according to plan, the new version was successfully self-employed people to enable them to buy or finish a kinds of risks the bank is vulnerable to, measuring these ●● Gold activity 2. released during this year’s third quarter. building for a real estate guarantee. risks, and developing strategies and mechanisms to manage and supervise them. Corporate Credit Services Developing and Enhancing Internet Advantages and characteristics: BBSF has set strategical directions concerning its Connections, Communications and Finance employees and self-employed individuals. loaning activities. ●● Our banking services have certainly played a huge role Services: The goal is to buy or finish a residential building. The administration council of the bank clearly specified ●● in supporting our beloved country’s economy and further The loan is granted by real estate guarantee (first all situations in which loans are denied, taking into ●● empowering our growth and income in 2015. In the recent past, numerous damages have affected degree mortgage for the bank). consideration Bemo’s pioneering position in the Syrian Through building long and bold relationships with the communication sector’s foundation in some cities. Period of the loan is: 1 to 15 years. banking sector, and its commitment to provide the best ●● essential players in diverse Syrian economic sectors However, the bank was able to find a quick and reliable banking services to all Syrians in the country. and our contributions to corporations and industrial replacement to provide all services to all cities. The bank’s BOD has also set guidelines to reach an companies, we have been able to build and maintain our The housing loan for Syrian expatriates acceptable profit level, maintain a low risk rate regarding role in the Syrian banking sector. The bank also aimed to renew all current Ethernets. To Aims to finance buying or finishing a house or apartment credit and therefore gain the satisfaction of shareholders The Corporate Credit department’s role is to present increase the service level, certain improvements were in Syria for a real estate guarantee. The bank’s strategy regarding operational risks, agreed services fit to every business sector such as trade made like connecting the branches with fiber optic lines It is for employees and self-employed individuals. on by the BOD, is specifying and executing operational funding, funding projects and the industrial sector. to ensure high speeds of data transportation. risk management in the bank’s diverse sections related to Our bank has also made sure to present these sectors The commercial loan operations and support. Therefore, the strategy is aligned of Syrian companies a variety of services and banking During the year, 50% of working procedures shifted with the bank’s general goals, so that it covers all activities facilitation that include: A receivable checking account, to virtual machines for some services and special Aims to finance companies and free jobs currently active, that reveal risks related to operational losses. In addition, term loans, bank order bonds, guarantees and credits of applications. This shift facilitates the management and seek to expand and develop its business: the bank considers high awareness of operational risks all types. of servers and cuts down on electricity and cooling Buy fixed assets. and means of decreasing them essential for success. ●● consumption. Finance the invested capital. ●● Banque Bemo Saudi Fransi has set strategical Department of Technology and Information Buy and finish commercial estates. ●● approaches regarding market risks of direct internal and The loan is given for (real estate guarantee, a first external financial investments to match the directional ●● Throughout 2016, the Department of Technology and Providing all the Bank’s Equipment and degree mortgage for the bank). decisions of the Central Bank of Syria. BBSF also works Information has continued to provide inspiring programs Programs: The loan is up to 50 million SYP. continuously on decreasing all negative effects of the ●● to fulfill the bank’s vision and empower the bank’s place Period of the loan is: from 1 to 8 years. exchange rate and interest variations and has taken ●● in the market. A pioneering status cannot be earned Despite the volatile prices during 2016, the Department many precautions regarding them last year. solely by profits but by guaranteeing clients the best of Technology and Information successfully provided all Conditions of the loan: The bank also has a set strategy for managing liquidity banking and electronic services. the bank’s technological needs. It has also stored stock To be a holder of Syrian Nationality. risks to ensure liquidity ratio stability at an acceptable ●● The bank has continuously worked on advancing the that strategically allows the bank to carry on all work To own a registered real estate free of mortgage or level, and also under tight supervision of both the ●● information technology infrastructure and supporting regardless. any other sign. executive and administration boards. The bank has an projects that develop the banking community and further Between 21 and 60 years old. emergency plan to face any unexpected liquidity drop. ●● enhance its productivity. The department has signed several contracts of Support The business intended to develop was initiated 3 ●● and Maintenance with various trusted companies of good years before. Developing the Banking System: reputation to benefit from their experience and guidance. Human Resources Due to evolutionary changes to the global banking sector, The department has participated in several conferences Because human resources is very important to Banque the bank has had to keep up through upgrading its SAB and activities. To present the best services to our clients, Risk Management Bemo Saudi Fransi, we provided: banking system from the A8 version to AT. the department has worked on setting up numerous Training for Tartous main branch and second branch, ●● Because our beloved country was suffering, this project ATMs in various locations and ensuring their secure Risk management in the bank has a set of basic the Safita branch, and Banias branch. was considered the most difficult challenge we faced in networking and expanded presence. principles that correspond to the bank’s activities, Scholarship of Doctor Oussama AlAnsari. ●● the last 2 years. It had to be accomplished using local operation complexity, supervision regulations, and the working hands and the least external support possible. 52 53 ACHIEVEMENTS AND ACTIVITIES

Future plan of the bank:

Damascus on the 18th of May 2017. During The BOD finds it important to have a new Relaunching the Scholarship of George the meeting, all shareholders gathered to identity and to create new services in order to Abaji keep the bank’s pioneering place through: revise the Board of Director’s report of 2016 Banque Bemo Saudi Fransi offered the and discuss future plans. ●● Work on following technological George Alabaji Scholarship to 10 employees development. that fit their criteria and want to continue their Launching of the Banking Training ●● Present new distinguished services and education and receive a Master’s Degree in Programme products to our customers and work on one of the Syrian universities. improving the quality of current products Participating in the Second Job Fair of and services. Banque Bemo Holds an Iftar Gathering for Gold Activity Banque Bemo Saudi Fransi participated in the ●● The possibility of subscribing with an under its Employees construction Islamic bank capital. Job Fair by (Khibrat Suriyah) in Rida Saeed ●● Expanding our customers circle by Celebrating Ramadan, Banque Bemo Saudi Hall on the 3rd and 4th of December 2016. attracting new customers and reaching the Fransi invited all employees to an Iftar gathering Because we believe in our ambitious youth, widest possible segment. in the Dama Rose Hotel. During the celebration the bank offered several positions that could ●● Continue giving loans and facilitations for the CEO of the bank, Sir Joseph Raffoul, gave be fulfilled by college graduates of various all economic sectors. a speech in which he showed his gratitude majors. ●● Work on finding new investment channels. to the employees and demonstrated all the ●● Renovate and develop the bank branches. achievements that led to Banks’s leading role Client Dinner in Tartous ●● Develop the policies and procedures in Syrian private banking. Our Board members invited contributors and accredited in the bank. VIPs so they can all get to know each other. ●● Safe management of expenses. Supporting the Fourth Dalba Festival for ●● Variable income resources. Arts and Culture in Mashta AlHelu ●● Invest in our human resources. ●● Continue having the basic social role. To support Syrian art and culture, Banque Bemo Saudi Fransi supported the Fourth Dalba The BOD consider that this strategy will have Festival for Arts and Culture. The Opening a positive effect on the bank’s future financial celebrations were sponsored by Mayor of data which will lead to greater benefits for Tartous Safwan Abu Saadi. The Festival the contributors, and to increase the bank’s included a sculpting forum, moldings of metal profitability. hardware, a photo gallery, and a performance by Hijra Chorus from the Higher Institute of Music. During the Festival Banque Bemo Saudi Press Activities Fransi was thanked and honoured for their support in what is considered one of the most The Opening of AlAbed’s Branch for important festivals in Mashta Alhelu, Oyun al Humanitarian Aids Wadi, and Kafroun.

Banque Bemo Saudi Fransi has announced the opening of its aid office to further serve Meeting of the General Assembly non-profit companies and provide them with facilities through a well-trained team. This Banque Bemo Saudi Fransi has conducted office was opened on the 15th of March 2016 a meeting for the General Assembly in the on AlAabed Street, AlSabe Bahrat Square. Zanoubia Hall of the Dama Rose Hotel in

54 55 ACHIEVEMENTS AND ACTIVITIES

Social Responsibility

Based on our solid belief of the bank’s important Last but not least, the bank covered two role in supporting all social responsibilities, transplant surgery expenses, to those who and facing all challenges and hardships of suffered limb loss to help them stand on their the country’s status quo, BBSF has planned feet and provide them with the opportunity to several projects and activities on all levels to start a better life. support society’s humanitarian situation.

We prepared many agreements and social and humanitarian initiatives that work to improve living conditions. We also worked hard to create passion, positivity, and hope through all our initiatives.

We signed a Joint Cooperation agreement with Ahl AlSham initiative. It includes supporting several training projects under the initiative’s supervision in Rural Damascus. These projects aim to help families that suffered from the war become self-sufficient and developing their skills through basic training that would help them get paid jobs.

The bank has carefully chosen training projects that fit perfectly with society’s demands. It supported these projects through computer programs and accounting in Jaabdin Charity in Jaabdin, professional courses on hairdressing for both men and women in AlAadlye Charity, in AlKeswe, courses on fixing computers and mobiles in Alhekme AlKheyrye in , and donating a number of computers to AlHanan AlKhayrie Charity in AlGhazlanye and Elyas AlGhyur Charity in Sahnaia.

In collaboration with Basma , Banque Bemo Saudi Fransi released a short video with the title “One of my Children Suffers from Cancer” to support their campaign.

Granting joy to the hearts of SOS orphans, BBSF covered all the expenses and needs of 20 children for a whole year including educational, medical, clothing and nutritional expenses.

To make sure that the medical sector was not forgotten, the bank donated new advanced medical machinery to AlGhassani Dispensary in .

56 57 ACCURACY… FINANCIAL LISTS

We express the magnificence of our accomplishments through accurate and precise efforts 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 PERVASION… OUR BRANCHES

We are extinguished with our international services through our widespread branches all over Syria Damascus Aleppo

Damascus Main Branch Main Branch Second Branch Damascus Complex building – Salhieh Aziziyeh Str. – Dahhan bldg.. Masaref Str. Tel: +963112267541 Tel: +963219244 Tel: +96343329301

29th of May Suleimaniyeh Safita 29th of May Str. Suleimanieh Str. Tel: +963112317778 Tel: +963219277 The Main Str. Tel: +96343533822 Bab Touma Farkan Adib Isaac Str. Tajmeel Elfarkan – Shorta buildings Str. Tel: +963115430911 Tel: +963219233 Banyas

Mezzeh Municipality Sqr. – Wahhoud bldg. Mezzeh Autostrada next to Razi Hospital Hama Tel: +96343723553 Tel: +963116129002 Hama Hareeka Kuwatli Str. – Dar Elhokoumeh Sqr. Ibn Khaldoun Str. Tel: +963332241692 Tel: +963112267541 Homs Dummar Jazeera 10 B – Market 26 Elhadara Tel: +963113141801 Elhadara Str. Tel: +963312782010 Abbasyeen Hamzeh and Abbas Str. Elhwash Tel: +963114436961 Wadi Elnasarah – Mzayneh Str. Tel: +963317448640 Jaramana Old Municipality Str. Tel: +963115636263 Lattakia

Sweida Main Branch 8th of March Str. Tishreen Sqr – Beginning of Kanawat road Tel: +963414569111 Tel: +96316323082 Jableh Jableh – Main Str. Hassakeh Tel: 96341838557

Kuwatly St. next to the Central Bank Tartous Tel: +96352227300 First Branch Kamishli Hanano Str. – Raffoul bldg. Tel: +96343312043 The President Str. Tel: +96352447501

160 161 Owning Bank: Banque Bemo Saudi Fransi SA Location of SSIs: Syria, Damascus, Head Office

Last updated on: August 27,017

For settlement through: BBSF SY DA (CP, FX, MM)

Please inform us if your settlement SWIFT has changed

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CP = Commercial Payments FX = Foreign Exchange MM = Money Markets

* = Preferred correspondent for this currency

Curr Correspondent Bank SWIFT/BIC Account No CP FX MM Other EUR Banque Saudi Fransi, BSFR SA RI Account Number: CP Riyadh 00707601032 EUR BEMO EUROPE- BEMO FR PP Account Number: CP FX MM BANQUE PRIVEE, 01061700131 Paris EUR UniCredit SPA, Milan UNCR IT MM Account Number: 09954528 CP

JPY The Bank of Tokyo- BOTK JP JT Account Number: -653 CP Mitsubishi UFJ Ltd., 0462098 Tokyo KWD Banque Saudi Fransi, BSFR SA RI Account Number: CP Riyadh 00707601323 QAR Qatar National Bank QNBA QA QA IBAN: QA97 QNBA 0000 CP SAQ, Doha 1 9000 8003 0001 0000 SAR Banque Saudi Fransi, BSFR SA RI Account Number: CP Riyadh 20070762150011 SEK Nordea Bank AB NDEA SE SS Account Number: CP (publ), Stockholm 39527703255 USD Al Rajhi Banking and RJHI SA RI IBAN: CP Investment Corp, Riyadh USD Banque Saudi Fransi, BSFR SA RI Account Number: CP Riyadh 00707600256

USD BEMO EUROPE- BEMO FR PP Account Number: CP FX MM BANQUE PRIVEE, 01061700400 Paris

162 163