Bank incorporation

Decree no. 26/m.o dated 10/4/2008 issued by the Syrian Prime Ministry, granted Bank Al-Sharq founders the license to establish Bank Al-Sharq as a Syrian Joint Stock Company with a total share capital of SYP 2.5 billion, consisting of 2.5 million equity shares of SYP 1,000 each.

Bank object

Bank Al-Sharq's main object is to receive and invest deposits, and to undertake all types of banking and financial activities for its own account or on behalf of others, in line with applicable Syrian laws and regulations, particularly law number 28 dated 16/4/2001, articles 85 and 86 of decree law no. 23 dated issued in 2002, and according to Corporate Law no. 3 dated issued in 2008 whereas the Bank shall be considered an independent legal entity, capable of assuming all of the activities it is licensed to undertake.

Bank Al-Sharq's affiliation to Banque Libano-Française Group constitutes one of its main key strengths as it furnishes it with deeply rooted and well established experience of the Syrian market and its associated risks together with close ties with the commercial and industrial sectors of the Syrian economy as well as with prominent Syrian businessmen. Moreover, Bank Al-Sharq stands to benefit from Banque SBA SA and its management's extensive activity and strong ties with both the private and public economic sectors of the Syrian Arab Republic.

Bank Al-Sharq's capital structure

Bank Al-Sharq's capital structure is as follows:

• Banque Libano-Française SAL: 49% (major shareholder),
• Syrian investors: 30.5%,
• Initial Public Offering: 20.5%.