FFA Private Bank Group is strengthening its role as a regional player in the financial sector by relocating its headquarters to the Dubai International Financial Center (DIFC), in accordance with its five-year strategic plan, which was approved by the Board of Directors and submitted to the Central Bank of Lebanon (BDL) in the fall of 2020. It is in this context that FFA Group Holding was incorporated in the DIFC, with its headquarters being from within the offices of FFA Private Bank Dubai Ltd.
The Dubai Financial Services Authority (DFSA) had already granted its approval for a change of control for FFA Private Bank Dubai Ltd, as a result of which FFA Group Holding shall replace FFA Private Bank SAL as the 100% controller of FFA Private Bank Dubai Ltd.
The Group’s reorganization is expected to be fully completed in the second half of 2021, after obtaining BDL’s approval for the change of control for FFA Private Bank SAL.
FFA Private Bank is operating from within the DIFC since 2006 and has since then considerably expanded its international reach. The DIFC provides a stable and efficient environment with a state of the art regulatory and supervisory framework and infrastructure for the Group’s expansion plans.
Notwithstanding the move of its headquarters, FFA Private Bank shall remain committed to supporting Lebanon’s economy and community.