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BLOM BANK Receives “Excellence in Risk Management” Award from Visa

In a ceremony held on January 30th, 2019 at BLOM BANK’s Headquarters, BLOM BANK was awarded the “Excellence in Risk Management” award by Visa as Mr. Saad Azhari, Chairman and General Manager of BLOM BANK, received the award from Mr. Marcello Baricordi, General Manager – Middle East and North Africa at Visa. The award comes in recognition of BLOM BANK’s effective adoption of a Zero Liability policy towards clients in case of card theft or data theft. Before such a policy was adopted, BLOM BANK clients had to wait for 3 months before the amount stolen from their card was reimbursed. Since the past ten years, however, clients have been reimbursed with any amount stolen from their cards within 24 hours.

Mr. Baricordi said, “We value our strategic partnership with BLOM BANK and we are thrilled to present them this award which signifies our efforts to make digital transactions as secure, easy and convenient as possible for our cardholders. Part of building trust with consumers to promote greater electronic payment use is reassuring them that they are protected from unauthorized charges if they use their cards and devices responsibly. This is why the Zero Liability policy that BLOM BANK has implemented is so important, as it helps to build great customer service, loyalty and trust, while promoting the digital payments culture in Lebanon.”

For his part, Mr. Azhari thanked Visa and said that “BLOM BANK wants its clients to perceive the Bank as a trustworthy place for their deposits and we believe this commitment to our customers has been key to our success. It is these values that ensure customers confidence in our business, which led us 10 years ago to implement the Zero Liability policy for our cardholders in case their cards were stolen”.

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