FBME Information

FBME Limited is the holding company for FBME Bank. The origins of the organisation go back to the 1930s when Mr Michel Saab served as a representative of a construction firm. In the early 1950s he founded the Federal Bank of Lebanon SAL (FBL). Federal Bank of the Middle East Limited was formed in Cyprus in 1982. Due to business considerations it was registered in the Cayman Islands in 1986 and changed its name to FBME Limited in 2005. FBME Bank Limited and Federal Bank of Lebanon SAL are today completely separate entities. In 1982 FBME Bank Limited's Cyprus branch was granted a full banking business licence to operate from within the country under the supervision of the Central Bank of Cyprus, and FBME Bank Limited has now been operating in Cyprus over 30 years. The Bank was reincorporated in Tanzania in 2003 in line with FBME's strategy in developing markets and a specific business opportunity to accept certain assets and liabilities of a bank in Tanzania in possession of a full banking licence. It continues to operate in the country under the supervision of the Bank of Tanzania. Originally formed with ownership held between the founder, Mr Michel Saab and his sons, since the passing away of Mr Michael in 1991, FBME Limited has been owned equally by Mr Ayoub-Farid M Saab and Mr Fadi M Saab. Through the holding company and its units, 438 people are employed in Cyprus, Tanzania and Russia, of whom 200 are citizens of the Republic of Cyprus. Its client base is geographically diverse, coming from 50 different countries.