Legal Compliance and Regulatory Standards

Société Boghos S.A.L.” is enrolled in the list of exchange institution supervised by the central Bank of Lebanon, under number 69 by virtue of the decision number 3227, since 26/10/1988.

The company belongs to Category (A) listed in the list of licensed exchange institutions, and its capital is currently of 5.000.000.000 Lebanese pounds according to the provisions of article 6 of its statute amended by virtue of the third decision issued by the minutes of the Extraordinary General Assembly meeting of shareholders, held on 19/07/2012.The company according to its class and capital, performs the operations of shipping of Banknotes and precious metals. The company complies with the provision of the initial decision number 8024 of 11.01.2002, related to the operations of shipping of Banknotes and precious metals.

Société Boghos controls its customers ‘operations in order to avoid any involvement in money laundering or terrorist financing, by following the rules set out in Lebanese Regulations and international standard requirements. In addition, we inform the Special Investigation Commission (SIC) at Central Bank of Lebanon of any procedures and measures might take in accordance with applicable AML/CFT laws and regulations.

Our Anti-money laundering (AML) and combating financing of terrorism (CFT) policy is based on the main requirements stated in FATF Forty Recommendations 2003 on AML, and FATF Nine Special Recommendations on Terrorism Financing of 2001.

Moreover, we assure you that our company is committed to the preservation of its reputation and integrity through the compliance with applicable laws and ethical standards. Compliance with laws and regulations among which are AML and CFT regulations, is therefore considered as an essential component of a solid Corporate Governance framework. We have taken all the necessary control measures at our company, to ensure transparency and compliance with the country AML/CFT regulations and international standard. Our board of directors and high management is highly committed in fighting financial Crimes and applying AML/CFT guidance.We are always enhancing our policies and procedures for our company to better comply with international best practices.