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Corporate Governance

Bemo Securitization SAL (BSEC) Corporate Governance Guidelines

BSEC implemented a set of Corporate Governance Guidelines in line with the regulatory requirements and BDL’s Basic Circular No 106 issued in July 26, 2006 and No 118 issued in July 21, 2008 and Intermediate Circular No 255 issued in April 21, 2011.

The guidelines promote fair and transparent relationship between BSEC’s management, its Board of Directors and its shareholders and ensures the independence of the Board of Directors and its ability to effectively supervise Senior Management’s operation of BSEC; in doing so, BSEC aims to protect the interests of all stakeholders while enabling the company to achieve sustainable growth.


Business Ethics

The Business Ethics set forth the guiding values that govern the activities of BSEC. BSEC is committed to maintaining high ethical standards and expects all directors, officers and employees, by virtue of their collaboration or employment with BSEC, to adhere to the highest standards of professional integrity and to comply with all applicable laws, rules and regulations in Lebanon.


Governance Model

BSEC’s Governance Model is in line with the relevant regulatory requirements as well as best market practices. The Governance Model is continuously reviewed by the Board to ensure that it remains relevant and able to meet future challenges.


Best corporate governance practice is about achieving the stakeholders’ goals, and delivering success in an ethical way.


Duties and Responsibilities of the Board of Directors

The Board is responsible for governing the business and affairs of BSEC and for exercising all such powers pursuant to the Articles of Association and Code of Commerce. While carrying out its duties and responsibilities, overall principle responsibilities of the Board are as follows:

  • Providing strategic leadership to BSEC;

  • Reviewing, approving and monitoring the implementation of BSEC’s strategic business plans and policies;

  • Acting as a guardian of BSEC’s corporate values and ethical principles in parallel with the goal to enhance stakeholders’ value;

  • Monitoring as well as evaluating the performance of the Management to ensure that the performance criteria remains dynamic; and

  • Ensuring the formulation of a succession plan for BSEC for long-term business continuity.


Relation with Shareholders

BSEC is committed to creating exceptional value for its stakeholders and aims to maximize long-term shareholder value.


Staff Duties and Behavior

BSEC's employees exhibit the highest standard of competence, professionalism and integrity at all times, show loyalty and commitment to the institution, act in the best interest of BSEC and strive to offer an outstanding quality service.

All employees respect and abide by the Banking Secrecy Law of September 3, 1956, in addition to all governmental laws and regulations.