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Board Structure

The Board of Midclear is composed of seven members. Five members represent the Central Bank of Lebanon, whereas, two members are elected by the General Assembly. The Board serves for a term of three years. The General Manager of Midclear is also the Chairman of the Board.

Board Responsibilities and Performance

The Board’s responsibilities are to set company policy, procedures and personnel regulations and establish branch offices as it sees fit. A detailed financial report is sent on a monthly basis to the Governor of the Central Bank of Lebanon and to the Manager of the Real Estate and Financial Assets Department of the Central Bank of Department. Four Board meetings are held every year at Midclear’s premises.

The Board consists of the following Central Bank of Lebanon’s Heads of Department:

  • Head of Legal Department
  • Head of Compliance Department
  • Head of IT Department
  • Head of Payment System Department
  • Head of Organization and Development Department, And an External legal advisor

In addition, the Board Directors overlook Midclear’s business, each in its own specialization.

Management Structures The daily management and operations of Midclear S.A.L. are the responsibility of the Chairman – General Manager as well as the following departments:

  • Administration Department
  • Accounting Department
  • IT Department
  • Shareholders Registry Department
  • Corporate Actions Department
  • Local Operations Department
  • Foreign Markets Operations Department
Management Communication

Management communicates through reports and meetings.

Public Information Management

Midclear has published the financial statements and fee schedule on its website and the following related laws:

  • Law No. 139, Establishment of a Central Depository
  • Law No. 308 on Bank Share Issuing and Trading, Bank Bond Issuing and Bank Ownership of Real Estate
  • Law No 161 of Capital Markets Authority

In addition, Midclear has published the responses to the AGC questionnaire.

Response to Regulatory Information Requirements

Midclear is supervised and regulated by the Banque du Liban.

Statistical Information Management

Statistical information and financial reports published on Midclear's website are available to the public.