BLOM Bank

BLOM BANK started operating in 1951 in Beirut. Its establishment coincided with a booming period in the banking sector in Lebanon. One of the founders was Hussein Al Oweini, a Lebanese politician and businessman. In 2024, BLOM Bank was named as the petitioner in a case granted certiorari for review by the Supreme Court of the United States. This case, BLOM Bank SAL v. Honickman, relates to an incidence victims of Hamas and their family members suing BLOM Bank under the Justice Against Sponsors of Terrorism Act (JASTA) in 2019. The plaintiffs have alleged that BLOM Bank provided financial services to Hamas and is therefor liable for aiding and abetting acts of terrorism. The question before the Supreme Court of the United States is a dispute regarding the Federal Rules of Civil Procedure, specifically Rule 60(b) regarding judgment finality. Oral arguments were heard by the Supreme Court of the United States on March 3, 2025, and an opinion will be published before the Court's summer recess in July. ==Bank's network and subsidiaries==

The Group conducts its worldwide operations through a network of banking and financial units, either directly or through its subsidiaries. In January 2021 the company sold its Egyptian subsidiary to Bank ABC of Bahrain for $427 million. == Sustainability ==

In terms of sustainability, BLOM BANK joined, in December 2014, the UN Global Compact committing to respect its ten principles, to take action in support of UN Goals and to submit annually a Communication on Progress Report. At the corporate governance level, BLOM BANK was the first bank in the Arab World to sign the Investors for Governance and Integrity (IGI) Declaration, thereby committing to the implementation of the Governance and Integrity Rating guidelines and recommendations. == Ownership ==

As of September 2023, BLOM Bank is primarily owned by The Bank of New York (34.37%), Banorabe S.A., SPF (18.73%), as well as the Azhari Family (7.53%), Chaker Family (4.83%), Saade Family (2.55%), Jaroudi Family (2.17%) and the Khoury Family (1.80%). == See also ==