On the 8th of October 1966, the 1st Syndicate for Money Changer of Lebanon was founded and based in Beirut. The aim of this Syndicate was to promote this profession at all "ethical, social, and economical" level.  

With the attendance of Messrs. Edgard Chaaya, Fouad Tabbarah, Joseph El Semn, Hagop Ogalian, the 1st board of directors was announced on 31 January 1967. 

This Syndicate was presided by Mr. Edgard Chaaya, and the following members: Messrs.  Abdel Rahman Merhi, Fouad Tabbarah, Jack Azadian, and went on till 19 June 1975. 

The very last board of directors was assigned by Messrs. Edgard Chaaya, Sami Karam, Fouad Cassir, Samir Badr, Jack Azadian, Chahe Seferian, George Attieh and Khatchig Attayan.

Because of the Lebanese war, the syndicate’s activities ceased on 24 April 1993. Due to the special efforts of Mr. Edgard Chaaya, the syndicate proceded its activities and a new board of directors were elected with the following members:  Messrs. Edgard Chaaya, Mohamad Chuman, Mahmoud Halawy, Ramez Mocataf, Farouk Tabbarah, Haygaram Kalindjian, Jean Assaf, Elie Zaylah, Michel Bassoul, Adnan Kabbani, Marwan Mobayed and Ryad Jalloul. 

Consecutively the syndicate proceded with 13 boards of directors proceeded and 40 members. 

As to the board of directors that successively managed this syndicate form 1967 till 2002 are as follows:

Date President Vice President General Secretary Treasurer
31/1/67  Edgard Chaaya  Abdel Rahman Merhi  Fouad Tabbara  Jack Azadian
22/2/68  Fouad Tabbara  Hagop Seferian  Edgard Chaaya  Fouad Cassir
9/4/69  Edgard Chaaya  Abdel Rahman Merhi  Jack Azadian  Fouad Cassir
23/3/70  Edgard Chaaya  Fouad Tabbara  Jack Azadian  Fouad Cassir
9/3/71  Edgard Chaaya  Khatchig Atayan  Jack Azadian  Fouad Cassir
11/4/72  Edgard Chaaya  Khatchig Atayan  Jack Azadian  Fouad Cassir
11/4/73  Edgard Chaaya  Fouad Cassir  Jack Azadian  George Attieh
10/5/74  Edgard Chaaya  Jack Azadian  Sami Karam  Fouad Cassir
29/4/93  Edgard Chaaya  Farouk Tabbara  Ryad Jalloul  Michel Bassoul
8/6/95  Michel Bassoul  Mahmoud Halawy  Mohamad El Saaty  Elie Zaylah
22/5/97  Mahmoud Halawy  Jean Assaf  Mohamad El Saaty  Garo Kalindjian
2/7/99  Michel Bassoul  Mohamad El Saaty  Mohamad El Saaty  Garo Kalindjian
20/6/01  Mahmoud Halawy  Jean Assaf  Ryad Jalloul  Lévon Gostanian

As to the members of the board directors that successively carried on the management of the syndicate are Messrs:

Edgard Chaaya

Jean Assaf

Fouad Tabbarah

Elie Zaylah

Fouad Kassir

Adnan Kabbani

Abdel Rahman Merhi

Marwan Mobayed

Dikran Tobanjian

Mohamad Chuman

Jack Azadian

Mahmoud Halawy

Michel Karam

Ramez Mocataf

Hagop Seferian

Chahe Seferian

Wajih El Ariss

Selim Joujou

Sami Karam

Chawky Abou Hamdan

Toufik Abboud

Rachid Al Kotob

Vahak Ohanessian

Khalil El Masri

Khatchig Atayan

Garo Kalindjian

Joseph Kassab

Mohamad El Saaty

George Attieh

Wadih Bassous

Samir Badr

Rene Labban

Farouk Tabbarah

Mahmoud Mrad

Ryad Jalloul

Levon Gostanian

Michel Bassoul

Antoine Sakr

Haygaram Kalindjian

Mohamad El Masri

Lawyers: 

  • Henri Torbey

  • Wadih Daoud

  • Samir Lama

  • Ryad Chidiac

The most significant achievements of the syndicate are: 

·    Accreditation of Mr. Edgard Chaaya as honorary president for life.

Preservation of the unity of the syndicate from sectarianism by remaining unified to protect the profession and its future outlook.

·    Establishing a permanent location for the syndicate with up to date accommodations to fit with technologic development.

·    Following up of the issues of illegal money changers.

·    Following up all problems to this profession with official government authorities and at the Central Bank of Lebanon.

·    Creating and establishing a mutual fund to assist the money changers.

Despite all, the syndicate persists to protect and promote this profession and its continuity by benefiting from technological advances and operational efficiency.

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