26 June 2020

It is with great sadness that the family of Fadi Michel Saab confirm his passing earlier this year, at the age of 70. Fadi Michel Saab is survived by his brother, Farid Michel Saab and his son, Michel Fadi Saab who are united in their grief and desire to honor Fadi’s memory.

Fadi Michel Saab was the son of the late Michel Ayoub Saab, the founder of the Federal Bank of Lebanon. Fadi spent his professional life in growing and maintaining the good name and legacy that he had inherited from his father Michel Ayoub Saab. Fadi Michel Saab and his brother, Farid Michel Saab, founded FBME Bank Ltd in 1982, which grew into a successful banking group.

Following the events of July 2014, during which the Central Bank of Cyprus controversially placed FBME under Resolution and attempted to sell its operations, both brothers dedicated themselves to fight the injustice committed on FBME and by extension all interested parties.

The passing of Fadi has not dented the resolve of the family to honor Fadi’s life and legacy by continuing the fight that Fadi was devoted to. Fadi passed away knowing that he had given his all – to pursue both his and his family’s rights and those who were arbitrarily harmed by the Central Bank of Cyprus. Fadi’s memory will be recognized by the good deeds and honest actions he took as both a professional and responsible citizen.