contents
    Summer 2002,
vol. 44, No. 1/2
 
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From left: Dr. Imad Baalbaki, Mr. Nazih Zeidan, Dr. Hisham Bsat, President John Waterbury, Mr. Fady Shammas and Mr. W.Stephen Jeffrey
  Arabia Insurance Company Scholarships    
  -      In 1999, Arabia Insurance Company established two scholarships for AUB students. These were named after two distinguished AUB alumni, Basim Faris and Badr Al-Fahoum, who graduated in 1925 and 1938 respectively. Messrs. Faris and Al-Fahoum were among the early AUB alumni who envisioned the importance of insurance in the Arab World, chaired Arabia Insurance's Board of Directors, and assumed its presidency. In honor of these founding fathers, Arabia Insurance Company made a pledge to AUB of $50,000 per annum. Every year, ten awards of $5,000 each are given to academically qualified students according to the following criteria: The Arabia Insurance's Badr Al-Fahoum Memorial Scholarship offers five awards, two to students in economics and three to business majors. The Arabia Insurance's Basim Faris Memorial Scholarship awards the other five scholarships, two to mathematics students, and three to computer and communications engineering or computer science majors.
      Operating continuously since the academic year of 1999-2000, thirty awards have been made to worthy students who benefited from the generosity and		 philanthropy of Arabia Insurance Company. The latest gift of $50,000 was presented to President John Waterbury in his office on July 16, 2002 by Dr. Hisham Bsat, chairman of the board of Arabia Insurance Company and Mr. Fady Shammas, general manager. Also present were VP for Development and External Relations, Dr. Stephen Jeffrey, Director of Development and External Affairs, Dr. Imad Baalbaki, and Special Assistant to the President for Development and Alumni Affairs Mr. Nazih Zeidan.
      Arabia Insurance Company prides itself in being one of the largest and oldest insurance companies owned wholly by shareholders from Lebanon and the Arab World. Established in 1944, it has 20 branches and 12 agencies throughout the region. In addition to that, three of its board members are intimately associated with AUB: Mr. Hassib Sabbagh, whose name has been linked with AUB for so many years as generous donor and very close friend, Mr. Munib Masri, member of the AUB Board of Trustees and major donor, and Mr. Farouk Jabr, ardent supporter of AUB and active member of several of its fund raising committees.
Sadik Al-Assa'd

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