The Governance and Integrity Rating on Online transparency and disclosure 2017 scores of the 10 Listed Companies on the BSE


Immediate Release  –  The Lebanon Report 2017


BLOM Bank S.A.L received the highest score in terms of disclosure, with a grade of an A in the Excellent range, with outstanding implementations of corporate governance disclosure standards.


Bank of Beirut S.A.L was among the banks that undertook a serious adoption of shareholder rights movement. Their commitment allowed them to achieve an A- score in the Excellent range, hence, demonstrating their assurance to their shareholders beyond BDL and CMA requirements.


Banque BEMO S.A.L improved its disclosures from a D- in 2015 to a B+ in 2017, demonstrating a high level of corporate governance attainment.


Banque Audi S.A.L remained consistent in its online disclosures, with a score of B- in the Very Good range.


Both, BLC Bank S.A.L and Byblos Bank S.A.L, received C+ scores. The former had an F score in 2015, which was improved to a C+ score in 2017, showing fair progress in disclosing corporate governance requirements.


Solidere S.A.L showed no serious improvements in enforcing corporate governance regulations, thus receiving a D+ in the Inadequate range.


The companies in the Fail range were RYMCO S.A.L, Holcim Liban S.A.L, and Société Libanaise des Ciments Blancs S.A.L, where all of them lacked efforts to improve their disclosures in applying corporate governance standards.



For more information, please contact:

Farah Abou Salem


+961 1 991911


 About Capital Concept sal

Since 2004, Capital Concept has been advising companies in the Middle East and North Africa region on corporate governance. Through its alliance with leading international organizations such as the Organization for Economic Cooperation and Development (OECD), the International Finance Corporation (IFC) and the Center for International Private Enterprise (CIPE), as well as through close relationships with regional central banks and capital market regulators, Capital Concept assists clients in implementing best in class corporate governance standards. In April 2013, Capital Concept became the first corporate governance advisory firm recognized by Lebanon’s central bank, Banque du Liban (BDL), to review the banking sector in Lebanon and the MENA region.


About Shareholder-Rights©

Shareholder-Rights© by Capital Concept sal (, registered in the Ministry of Information of Lebanon under license number 1324/2015, is an online platform that defends shareholder rights worldwide.  Constantly rating and reviewing companies’ Environmental, Social, Governance and CyberSecurity (ESG-C)  commitment to investor rights by shedding light on corporate or regulatory adherence to best practices.

Shareholder-Rights© by Capital Concept sal is an independent provider of research, ratings and assessments on Environmental, Social, Governance and Cyber-Security (ESG-C) practices affecting the performance of public and private companies. Our researchers and analysts are precluded from engaging in any transactions involving any companies we follow. Our ratings and supporting research are intended to provide investors with a clear understanding of ESG-C practices that can and do impact shareholder democracy, investment decisions, and issuer risk. They are not, however, intended for stand-alone use and should not be considered as simple Buy, Sell or Hold recommendations. We encourage investment professionals to regard these ratings as a specialized, proprietary input to be used in combination with existing fundamental analysis or other approaches and to help comply with our standards and get certified/accredited.

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