Al-Waha Bank Hosts the Annual Meeting of the BSIC Group and Highlights Its Financial Recovery and Progress in Compliance and Digital Transformation

Tripoli – Monday, October 26, 2026: Al-Waha Bank hosted the annual meeting of the BSIC Group at its headquarters in the capital, Tripoli. The meeting was dedicated to reviewing the financial and operational performance results of the group and its units, as well as discussing performance indicators and development plans, while highlighting Al-Waha Bank’s path to financial recovery, its transition to profitability, progress in developing its internal control and compliance systems, and the modernization of its technical infrastructure and digital banking services. The meeting was chaired by the Chairman of the Board of Directors and General Manager of BSIC, in the presence of the Chairman of the Board of Directors of Al-Waha Bank, with the participation of the managers of the Group’s branches, the heads of central departments and sectors, advisors, and a number of officials from both banks. The meeting’s agenda covered annual reports and performance indicators, executive plans and programs, and operational and administrative challenges, as well as monitoring internal audit, oversight, and risk management activities, and reviewing compliance with legislation, regulatory directives, and approved banking policies—all of which support institutional performance efficiency and reinforce the principles of governance and sustainability. Al-Waha Bank: Financial Recovery and Return to Profitability Al-Waha Bank’s financial performance was one of the main focal points of the meeting, during which the results achieved through corrective and developmental measures implemented to address accumulated challenges and imbalances were reviewed, which contributed to the bank’s transition from recording a deficit to generating profits—an indicator reflecting improved resource management, cost control, and enhanced operational efficiency. This development is part of a strategy aimed at strengthening the bank’s financial stability, and consolidate its ability to grow its business and develop its services, with a focus on sustainable financial results and achieving balanced growth based on operational efficiency, institutional discipline, and effective resource management. The meeting also reviewed the bank’s efforts to develop its internal control system, strengthen audit and review functions, and enhance compliance with regulatory requirements—all of which contribute to improving the quality of financial data and reports, enhancing the integrity of banking operations, and developing mechanisms for identifying, monitoring, and addressing risks. This approach reflects Al-Waha Bank’s commitment to establishing a corporate business model that links financial recovery with managerial development, and promotes transparency, accountability, and clarity of responsibilities, thereby bolstering confidence in the bank’s performance and laying the foundation for a more stable and sustainable phase. Digital Transformation: Developing Services and Enhancing Operational Efficiency As part of the bank’s drive to modernize its services, the meeting discussed the steps taken to develop the technical infrastructure and expand the scope of electronic and digital banking services, thereby facilitating customer access to services, accelerating transaction processing, improving the customer experience, and increasing the efficiency of operational monitoring and oversight. In this context, the meeting coincided with the opening of the “Waha – BSIC Digital”, a practical step in the bank’s efforts to develop banking service channels, promote the use of digital solutions, and keep pace with changing individual and corporate needs. The opening of the branch represents a continuation of the bank’s modernization path, achieved by combining service development, improving operational efficiency, and strengthening the regulatory and security controls associated with digital expansion—all of which support service quality and elevate operational performance. Shared Priorities and Measurable Implementation Plans The meeting emphasized the importance of strengthening coordination between the Group’s general management and its branches and units, developing mechanisms for reporting and tracking performance indicators, and linking operational plans and programs to clear objectives and measurable outcomes, while prioritizing governance, compliance, risk management, and the development of institutional capabilities. It also stressed the importance of following up on the implementation of recommendations according to specific timelines and clear responsibilities, thereby ensuring that the meeting’s outcomes are translated into practical measures that contribute to improving performance and enhancing integration among the Group’s units. Al-Waha Bank’s hosting of this meeting—and the review of financial recovery results and development initiatives that took place—underscores the bank’s commitment to continuing its path of reform and modernization, strengthening the foundations of financial stability, developing its oversight and compliance framework, and expanding digital services, thereby supporting sustainable growth and elevating the quality of services provided to customers. Al-Waha Bank – limitless growth