Established in London in June 1972, BACB is a wholesale bank and a leading provider of trade and project finance for Arab markets.
Based in the City of London, the bank's largest single shareholder is the Libyan Foreign Bank. BACB's other shareholders comprise commercial banks from the Arab world.
On 2 June 2009 the Bank changed its corporate status from that of a private to a public company.
BACB is proud to announce that in January 2014 it was awarded the Platinum prize in the annual "Clean City" City of London awards for 2013, in recognition of our continued commitment to recycling and environmentally friendly best practice. Occupiers of some 1600 premises in the City of London now take part in this scheme.
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to GBP85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be GBP85,000 each (making a total of GBP170,000). The GBP85,000 limit relates to the combined amount in all the eligible depositor's accounts with the bank, including their share of any joint account, and not to each separate account.
For further information about the scheme (including the amounts covered and eligibility to claim) please call us on +44 (0) 20 7648 7777 or refer to the FSCS website www.FSCS.org.uk or call 020 7892 7300 or 0800 678 1100.