BLC Bank

Principles of Banking

BLC Bank has adopted the below "Principles of Banking and Financial Operations with Customers":

• Provide customers with accurate, clear, and ample key information on the conditions, benefits and risks of products or services, inform them of any change in these conditions and reply with high professionalism accuracy and speed to any inquiry made by a customer. Key information must include, for indicative purposes but not restrictively, the following elements:
• The computational method of the actual cost of each product or service (i.e. all expenditures, commissions, expenses, charges, and /or any other amounts).
• The computational method of the lending or deposit interest rate of each product or service.
• The conditions to access any benefit linked to a product or service.

• Ensure that advertisements are clear, transparent, comprehensive, and do not mislead customers about the features of the product or service.
• Ensure the suitability of the product or service, whether provided or requested, with the customer’s situation and needs.
• Protect the customers’ personal and financial information, without prejudice to the legislation in force, particularly the Banking Secrecy Law and Anti-Money Laundering Law.
• Provide customers with a periodic statement that includes data and information, in accordance with the regulations issued by the Banking Control Commission. All the means must be used to make sure that customers obtain this periodic statement personally and with no delay.
• Develop a clear and efficient procedure that enables customers to submit their claims for free and guarantees the follow-up and handling of these claims without delay.

Principles of Banking & Financial Operations with Customers

• Deal with customers in a continuously fair, equitable and professional manner that takes into account the customer’s profile, and his/her perception of the operations and the risks and benefits associated thereto.
• Spread among employees, particularly those who deal directly with customers, the culture of a transparent and fair relationship with customers, through training, capacity building, and enhancement of professional experience, including the implementation of the provisions of Basic Decision No., 9286 of July 26, 2006 (Academic, technical and ethical qualifications required for performing certain functions in the banking and financial sectors).
• Include in the Code of Conduct referred to in Banque du Liban’s Basic Decision no. 9382 of July 26, 2006 (Corporate Governance), specific criteria concerning the approach to relationship with customers, in line with the above-mentioned policy.