History

Lebanon got out of his catastrophic war in the early nineties of the past century. With peace installed and the need to develop its war torn economy, the country badly needed new incentives allowing the banks to ease credit facilities. 

From there, the idea of implementing credit insurance grew-up. The founder of CST group of companies, further to a long experience in the banking and insurance sectors in Canada and the U.A.E., came out with his project being the creation of “retail credit insurance third party administration” catering to insurance companies willing to do business in the retail and trade credit insurance field. 

In September 1997 “CST Lebanon” was born, addressing through prime insurance companies to the Lebanese banking sector. 

The first step in the implementation of this new product was to secure the support of first class international reinsurers, bearing part of the risk borne by the participating insurance companies. 

Late 2002, in conjunction with the increasing demand for general insurance, and considering CST’s team experience in this particular sector, “Installments & Insurance Lebanon“ was founded, addressing to companies and individuals; offering its professional consultancy services in non traditional insurance lines and also allowing personalized after sales services to its customers. “Installments & Insurance” also allows important payment facilities to its customers. Above are secured by credit insurance. 

Following several years of good experiment on the Lebanese market, and considering the need for new products in the retail credit sector, “Byoutna“ was created by the end of 2003. “Byoutna“ specialized itself in the creation of tailor made retail credit schemes based on new concepts. It also took in charge the marketing of such plans. All “Byoutna” plans are duly covered by credit insurance. 

Considering the good results realized by “CST Lebanon“ in the credit insurance field, and further to the reinsurers encouragement, CST decided to expand regionally. 

Starting January 2007, “CST Jordan“ was created offering the Jordanian insurance market its services. In 2011 "Installments & Insurance Jordan" was created also.

Early 2008, Egypt represented our second step in our regionalization program, “CST Egypt“ was then introduced on the Egyptian insurance sector duplicating services offered in Lebanon and Jordan. 

2010 is the year of the reorganization in accordance with our expansion plans. First we have created our financial arm “CST for Loans” completing the range of our financial services. “CST for Loans“ in addition to the finance of personal and consumer loans is involved in the micro-finance and small commercial loans, thus developing new opportunities, and participating in the betterment of the national economy. 


All companies are now gathered under “CST Holding” umbrella. 
 

CST Iraq was our further step towards regional expansion. We established CST Iraq in Erbil in 2014.

Our ambition does not stop here, and with the new generation getting everyday more involved in the management and development of our company, our plans are now to extend further. 

In 2017, our aim to enter European markets was realized by the creation of "CST Europe" in Cyprus. 

As far as other countries are concerned our goal is to enter the Arabic Gulf countries and Eastern Europe markets.

Concept

The concept behind CST is to allow a natural access to competence in the credit insurance field, as no insurance company would be in a position to afford the very high running costs individually, nor to collect the necessary data under one single data base and generate enough business for it to become an attractive business proposition. 
CST, is now in a unique position to tackle such an opportunity all over the Middle Eastern markets.

CST provides practical and proven solutions to enhancing and promoting commercial and consumer credit through:

  • Allowing the betterment of credit terms and conditions
  • By reducing the credit risk through credit insurance

Backed by international specialized credit reinsurers; CST is not only in a position to bring genuine credit solutions, credit insurance cover and quality but also:

  • Engineer and design credit products.
  • Data analysis and credit worthiness.
  • Use sophisticated evaluation tools
  • Monitor debts on a regular basis.
  • Recover non performing debts.

CST offers insurance companies:

  • Equal access to underwriting and technical expertise in the credit insurance field;
  • A sophisticated data base and;
  • Reinsurance along with;
  • The confidentiality and the reliability of an independent organization, familiar with doing business in this part of the World.

CST aim is not only to administrate Credit Insurance, but also to engineer Credit plans (through one of its specialized companies) adapted to the local market needs. 

CST role, is to create and administrate Credit plans for the participant insurers and also to join forces with those same insurers and their customers, in order to come out with new credit concepts, adapted to the local social factors, easily understandable and acceptable to the majority of consumers and traders. All plans and programs will be framed, so as to include the maximum guarantees, in order to secure regular payments and easy recovery in case of claim. 

CST task is to secure the insured (financier, trader, merchant …) while preserving the reinsurer and the insurance company's interest. Our goal is reached through a strict application of CST underwriting guidelines coupled with a strict individual selection of credit applicants, a serious control and an efficient daily follow-up. 

The risk management concept in credit insurance being totally different, from any other insurance line; it is our deep belief and previous experience have proved the rightness of our view, that a credit management company represents the best tool to deal with credit insurance. 

Entering foreign markets must in our opinion be done through the establishment of a local credit insurance management company (third party administrator). This company will be created as a joint venture between CST and local partners in each and every targeted market. 

The newly formed local management company will be using CST software, underwriting guidelines, claims resolution guidelines and all related data base and programs. Furthermore special credit schemes adapted to the local market could be offered to the insured and implemented.

Furthermore, and in order to ease the implementation of credit insurance in the different countries of operation, we believe a specialized insurance consultancy and brokerage firm  would be the useful tool to approach in the name of the insurance companies the banking sector, offering professional advices and consultancy. Finally, we would like to emphasize on the wide possibilities brought up by such a gathering (CST, and local insurance companies) in the development of professionally managed and secured credit insurance and also the very high profitability one can expect from such an approach when dealing with credit insurance 

Why Choose CST?

  • The sole consumer credit insurance TPA’s in the MENA region
  • Professional expertise in the management of credit
  • Large data base with credit history
  • Several lawyers engaged for recoveries
  • Long term reliable relationship with investigation companies
  • Long term reliable relationship with Insurance Companies and Reinsurers
  • Most Reinsurers dealing with Consumer Credit Insurance require that CS&T be the credit administrator
  • Acts as an efficient go – between among involved parties
  • Acts as the true and effective back office to the Insurance and the Insured
  • Creation and implementation of merchants networks
  • Sales Force covering all areas across countries of operation
  • Best advices in different fields of general insurances

Departments

The following departments constitute the core of CST Backbone, the CST team consists of highly trained individuals with experience in the credit field and familiar with the local market conditions; all of them having worked insurance or banking sectors with a successful track record.

Monitoring, Follow-Up and Claims Recovery Department

Claims Processing Department

Production and selection department

Legal Department

The department role mainly consists in transmitting claimed files when necessary to various specialized lawyers. This department also controls on a monthly basis legal pursuits engaged against claimed defaulters.

Reinsurance and Statistics Department

The department is in charge of preparing the quarterly reinsurance bordereaux together with general statistics to insurance companies and reinsures.

IT Department

Hardware, software and network maintenance. Assist in the programming of the new web CST specially customized software.

Accounting Department

Supervises accounts for all companies in the group.

Quality Control Departments

This department is in charge of verifying if all incoming and outgoing operations are in conformity with quality norms defined by CST guidelines.

Regional Division

This department coordinates all reinsurance matters centralized in Beirut. The regional divisions also make sure that production, follow up and claims resolution are in conformity with CST guide lines, This department is also in charge for regional development

Public Relations

This department caters for all companies customer relations.

André Jacques Anhoury

Chairman General Manager and Senior Underwriter

 

Graduated in Business Administration in 1980 from l'Ecole des Hautes Etudes Commerciales in Montreal (affiliated to Montreal University), has over 35 years of insurance experience; he has worked in the United Arab Emirates, in Canada, and in the Lebanon. André is considered one of the founding fathers of Credit insurance in Lebanon and the Middle East.

 

 

Saleh Mohsen Srour

Vice President, Deputy General Manager

Graduated from "La Sagesse" university in 2000, holds a masters degree in law. Saleh previously worked for the "Beirut Chamber of Commerce and Industry". Saleh is in charge of assisting the general manager in most of his duties in addition to a close follow-up on claims and relations with lawyers.

Joseph Assaad Chahine

Executive Regional Manager, Assistant General Manager

Graduated in business computer from Pigier institute. Joseph joined CS&T in 1999. He was in charge of the follow-up and monitoring department. In October 2005 he took in charge the reinsurance and statistics department before being promoted to his actual position in January 2007. Since January 1, 2007 Joseph also took in charge CS&T Jordanian operations. He was elected as Chairman of the Board of CST Jordan in 2010. He was also appointed as "technical manager" for all of CS&T regional operations (Lebanon, Jordan and Egypt).Joseph is also in charge of regional development.

Maher Fouad Darwish

Chairman (CST Egypt)

Has studied law at Lebanese University; he has been involved in many financial jobs and positions before joining CS&T in 1998. In 1998 Maher was appointed group production manager. Since November 2007, Maher is also in charge of “Credit Systems and Techniques Egypt”, as “acting general manager”. In May 2014, he was elected Chairman of CST Egypt.

Gladys Chahine

Executive Financial Manager

Graduated from Institut Technique des Soeurs des Saints Coeurs in auditing and commercial studies and holds a masters degree in Organizational Management from the “Université du Québec à Chicoutimi”. 
Gladys joined CST in 2000 as junior accountant and was appointed as financial manager for Lebanese and regional branches on January 1st, 2007. Gladys was also appointed as CST Jordan, CST Egypt and CST Iraq financial manager. 

Raja Elie Abdallah

CEO

Worked for 10 years in private banking in Switzerland and knows the structured yield product market very well. He joined CST for Loans in 2009. He holds a CFA and MBA as well as engineering degrees.

Mohammed Yassin

General Manager

Graduated in management information systems from Arab open University. He also holds an advanced insurance diploma from BIBF ( graduated in 2005 ). In 2007 Mohammed joined CST Jordan as Deputy general manager. In October 2010 he was promoted to become CST Jordan general Manager. In January 2011 Mohammed was appointed as CST regional IT manager.

Mazen El Saber

General Manager

Joined I & I Jordan since its foundation in December 2009. Mazen who graduated from Arab College in 1995 holds an accounting diploma in addition to a BIBF insurance advanced diploma (2006). Mazen holds many positions in insurance companies, he was from 1996 to 2009 motor department manager at Euro-Arab insurance company. He also joined the Mr. Atout team at APEX Insurance during the year 2009 before joining I & I.

Sami Jalal Mohammed

General Manager

Graduated from Oil Institute in 1981. In 2000 Sami was project manager at UNDP. Further to above, In 2005, he was appointed as director in the office of the vice president of the Republic of Iraq. In 2006 he moved to the Office of the Deputy Prime Minister of Iraq as director. In 2008 he worked as senior adviser for the strategic project at Kurdistan development cooperation “KRG”. In 2011 after the creation of UR International, he occupied the job of business development manager in the company. Sami is an active activist in the civil society human rights against the use of chemical weapons, and he is also the founder of the Kurdish Justice Group

Chadi Assaad Chahine

Assistant General Manager

Has a Certificate in Business Management and marketing from American Universal College. 
Chadi joined CST in June 2006, in charge of data entry department.
In January 2007 he was appointed in the follow-up and monitoring department, then in January 2009 he moved to the Claims and Recovery Department. Since April 2013 Chadi is the Assistant General Manager at CST Iraq and is currently in charge of Suleimanieh Branch.

Saleh Mohsen Srour

Deputy General Manager

Graduated from "La Sagesse" university in 2000, holds a masters degree in law. Saleh previously worked for the "Beirut Chamber of Commerce and Industry". Saleh is in charge of assisting the general manager in most of his duties in addition to a close follow-up on claims and relations with lawyers.

Joseph Assaad Chahine

Executive Regional Manager and Assistant General Manager

Graduated in business computer from Pigier institute. Joseph joined CST in 1999. He was in charge of the follow-up and monitoring department. In October 2005 he took in charge the reinsurance and statistics department before being promoted to his actual position in January 2007. Since January , 2007 Joseph also took in charge CST Jordanian operations. He was elected as Chairman of the Board of CST Jordan in 2010. He was also appointed as "technical manager" for all of CST regional operations (Lebanon, Jordan and Egypt).Joseph is also in charge of regional development.

Gladys Chahine

Executive Financial Manager

Graduated from Institut Technique des Soeurs des Saints Coeurs in auditing and commercial studies and holds a masters degree in Organizational Management from the “Université du Québec à Chicoutimi”. Gladys joined CST in 2000 as junior accountant and was appointed as financial manager for Lebanese and regional branches on January 1st, 2007. Gladys was also appointed as CST Jordan, CST Egypt and CST Iraq financial manager.

Maher Fouad Darwich

Chairman

Has studied law at Lebanese University; he has been involved in many financial jobs and positions before joining CST in 1998. In 1998 Maher was appointed group production manager. Since November 2007, Maher is also in charge of “Credit Systems and Techniques Egypt”, as “acting general manager”. In May 2014, he was elected Chairman of CST Egypt.

Raja Abdallah

Chairman

Worked for 10 years in private banking in Switzerland and knows the structured yield product market very well. He joined CST for Loans in 2009. He holds a CFA and MBA as well as engineering degrees. In March 2014, Raja was elected as Chairman for CST Loans.

Mohammed Yassin

General Manager

Graduated in management information systems from Arab open University. He also holds an advanced insurance diploma from BIBF ( graduated in 2005 ). In 2007 Mohammed joined CST Jordan as Deputy general manager. In October 2010 he was promoted to become CST Jordan general Manager. In January 2011 Mohammed was appointed as CST regional IT manager.

Mazen Al Saber

General Manager

Joined I & I Jordan since its foundation in December 2009. Mazen who graduated from Arab College in 1995 holds an accounting diploma in addition to a BIBF insurance advanced diploma (2006). Mazen holds many positions in insurance companies, he was from 1996 to 2009 motor department manager at Euro-Arab insurance company. He also joined the Mr. Atout team at APEX Insurance during the year 2009 before joining I & I.

Sami Jalal Mohammed

General Manager

Graduated from Oil Institute in 1981. In 2000 Sami was project manager at UNDP. Further to above, In 2005, he was appointed as director in the office of the vice president of the Republic of Iraq. In 2006 he moved to the Office of the Deputy Prime Minister of Iraq as director. In 2008 he worked as senior adviser for the strategic project at Kurdistan development cooperation “KRG”. In 2011 after the creation of UR International, he occupied the job of business development manager in the company. Sami is an active activist in the civil society human rights against the use of chemical weapons, and he is also the founder of the Kurdish Justice Group

Chadi Assaad Chahine

Assistant General Manager

Has a Certificate in Business Management and marketing from American Universal College. Chadi joined CST in June 2006, in charge of data entry department. In January 2007 he was appointed in the follow-up and monitoring department, then in January 2009 he moved to the Claims and Recovery Department. Since April 2013 Chadi is the Assistant General Manager at CST Iraq and is currently in charge of Suleimanieh Branch.
Management CST LEBANON
Management CST FOR LOANS
Management CST EGYPT
Management I&I JORDAN
Management CST JORDAN
Management CST IRAQ
Management I & I Lebanon