Acquisition of BML Istisharat and IST (Offshore)

Mawarid Finance ("Mawarid"), an investment group based out of the UAE has acquired a majority interest in our firm with the objective of supporting our expansion and strengthening our solutions. Mawarid focuses on mid-sized business in the Middle East and has supported, for the past decade, entrepreneurs taking their business to the next level, specifically in the Technology and Financial sectors.

The firm is focused on long-term value creation, with a particular emphasis on investing in human talent, exploring international opportunities and forging partnerships.

This investment is a testimonial to the trust our clients have granted us all these years.

Accordingly, it was important to choose a partner that understands our business and values our achievements and people.

Mawarid's involvement will be primarily focused on seizing growth opportunities, here and internationally, and investing in our solutions and capabilities.

This year, Joe Faddoul will be gradually handing over its responsibilities of CEO to Mr. Raji Challita, but will remain significantly involved for three years as part of the board of directors.

Raji, a pillar of the BML family and an accomplished executive, has all the necessary skills and experience to ensure the smooth continuation and growth of our business alongside our new partner.

New recruits

Laurent Maksoud, Bachelor in Computer and Telecommunications Engineering from USEK, joined our company on 12th of February as DBA Services Manager.

Maya Belouh, Master's degree in Business Computer from USJ, joined our company on the 1st of March as Assistant Product Manager in the Insurance Unit.

Laurent Maksoud Maya Belouh