Audi Saradar Investment Bank s.a.l. was established in 1974 under the name Investment and Finance Bank s.a.l. (INFI) as a "specialized bank" under Decree Law No. 22/67 (as amended by Decree Law No. 50 of July 15, 1983 and by Decree Law No. 85 of September 16, 1983). As a "specialized bank", ASIB is subject to certain restrictions on its funding and lending activities, but benefits from exemptions from reserve requirements otherwise applicable to commercial banks and from other regulatory advantages. Since March 31, 1997, specialized banks, including ASIB, have been exempted from Central Bank reserve requirements, provided that they maintain a ratio of at least 1:1 between loans to the private sector and loans to the public sector (including investments in Lebanese treasury bills). Specialized banks can invest up to 50 per cent. of their aggregate deposits with a maturity of at least five years in equity and other similar securities without being subject to limits on such investments applicable to commercial banks. As a "specialized bank", ASIB is not permitted to take short-term deposits or make short-term loans, all deposits being required to have a minimum maturity of six months and all loans being required to have a minimum tenor of two years.
As at December 31, 2003, ASIB sharehoders' equity was equal to LL 51,650 million (US$ 34.26 million) and, for the year then ended, ASIB had net income after tax of LL 1,714 million (US$ 1.14 million). For the same year end, ASIB total assets were LL 975,315 million (US$ 646,98 million) and liabilities LL 923,665 million (US$ 612.71 million), consisting of deposits from the Bank and its foreign sister banks totaling LL 159,784 million (US$ 105.99 million) and deposits from customers of LL 609,023 million (US$ 403,99 million).