Farid Raphaël passes away

More than 50 years of experience and leadership

Farid Raphaël, Chairman and General Manager of the Banque Libano-Française (BLF) passed away, yesterday, after a long career in the banking industry, as well as in public service.

Born in 1933, in Dlebta, the 81-year-old economist earned his degrees in law (French law degree and Lebanese law degree) from Saint Joseph University.

Raphaël began his banking career at Compagnie Algérienne de Crédit et de Banque (CACB), in 1956. He founded BLF in 1967, which became one of the leading banks in Lebanon.

He held several public functions as Minister of Finance, Minister of Justice and Minister of Telecommunications from 1976 to 1979 in the cabinet of Prime Minister Salim Al-Hoss.

Raphaël was also a board member of BLF's French banking subsidiary, Banque SBA, based in Paris, with a branch in Cyprus and a financial subsidiary in Geneva. He was also Vice-Chairman of Bank Al-Sharq SA, a subsidiary based in Syria and member of the board of several other private enterprises, such as Hôtel Dieu de France Hospital.

He was Chairman of the Association of Banks in Lebanon (ABL) in 1997 and 1999 and a permanent member of the organization.

The Governor of the Central Bank Riad Salameh said: “He was a leader and a main pillar of the Lebanese banking sector. He was a distinguished man. He worked with the BDL on the completion of the Anti-Money Laundering law during his presidency of the ABL. He was highly loyal to his country and that was obvious in all his official positions.”

Raphaël held several medals of honor including the French Honor Legion, as a ‘Knight’ in 1984 and as an ‘Officer’ in 1999.