BMC Capitol Bypass Sets Record Straight

Building Material Center (BMC) on Capitol Bypass has clarified that it is not indebted to any commercial bank, whatsoever, as reported in the media.

The Liberian Bankers Association (LBA), with backing from the Central Bank of Liberia (CBL), recently blacklisted and published the names of 119 delinquent borrowers for their failure to settle loans they owe the banks.

According to the LBA, the borrowers and their businesses will not be allowed to access bank loans nor will they be permitted to transact business with any bank in the country.

BMC on Capitol Bypass under the management of Mohammad and Ali Kobeissi wants to clarify that the BMC as mentioned in the papers which owners are Ali and Hassan Nashar have no link to their company.

In a statement issued in Monrovia yesterday, BMC maintained that it has no connection with the delinquent debtor and wish to inform the public of their commitment and interest in operating a better and stronger financial system.

BMC Capitol Bypass general manager Mohammad Kobeissi noted that his company has been a good costumer in their 38 years of operation in Liberia, and as such, BMC will do nothing to damage such incredible character.

BMC holds a clean financial record at all level in the country, he said, and the banks we do business with are fully aware of our good financial records and transaction.

“In our operations, we only deal with two commercial banks that includes International Bank (IB) and Ecobank. This is not to discredit other commercial banks, but never had we operated with other banks in our financial transaction that involves loan and other financial related issues,” Mr. Kobeissi declared.

However, Mr. Kobeissi added, “we like to apologize to our many costumers about such unfortunate situation and maintained that we remain credible and customer-friendly in our operations.”

The statement furthered that the two banks through their executives have consented to be used as future references in case of any clarification.

Mr. Henry Saamoi Chief Executive Officer (CEO) of International Bank and Mr. Adekola Adeleke General Manager of Ecobank defended the company’s outstanding financial records over the years.

Liberia’s Bankers Association also came in defense of BMC Capitol Bypass yesterday after the news broke.

In a statement, Mr. Milton Weeks also clarified that BMC Capitol Bypass is not amongst companies and firms listed as delinquent debtors by the Central Bank. He noted that it is the BMC in Sinkor that was highlighted as debtor in the 119 delinquent debtors.

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