1974 Dr Adnan Abou Ayyash, a hard-working and highly reputable engineer, graduated from the University of Texas at Austin in 1974 with a PhD in Civil Engineering.
1984 After having worked in Saudi Arabia for 10 years, Dr Adnan Abou Ayyash, had amassed a respectable wealth by hard work in consulting and construction of prestigious engineering projects all over Saudi Arabia, Europe and North Africa. Dr Adnan decided to invest some of the money that he had earned during these years, back in his home country, Lebanon. Thus, Dr Adnan bought a controlling majority in a local Lebanese bank (Bank AI-Madina). Since Dr Adnan was too busy with his engineering work and therefore unable to run the bank himself, he confined the management of the bank to his younger brother, Ibrahim Abou Ayyash.
1985 A young Lebanese woman, Rana Koleilat, was recruited as a secretary to the General Manager, Mr. Ibrahim Abou Ayyash. Rana had no formal university education, but was able in a record time to earn the trust and confidence of the General Manager and his brother, Dr Adnan, and became the entrusted assistant of the bank owners. She was later appointed as the financial advisor to the Chairman.
Because of her position, as the General Manager secretary and advisor, and the fact that Dr Adnan was constantly in Saudi Arabia managing his engineering projects, she acted as the Go-Between of the two brothers and consequently controlled the communications’ flow between them and was able to know their most intimate and confidential matters including becoming acquainted with the size of Dr Adnan’s financial status. That is when she started reflecting on her evil and wicked plan which had one goal only, getting her hands on this wealth.
1998 AI-Madina acquired the license of two other non-active banks “Foreign Trade Bank” and “Commercial Facilities Bank” that were later merged into a new sister bank “United Credit Bank”. During the years, the Bank AI-Madina operations were developing considerably and in less than 15 years the bank had opened more than 22 branches all over Lebanon. At the same time, the Lebanese business operations of the Abou Ayyash family (Dr Adnan and his brother) were also expanding in other industries as well through the Madina Group, a conglomerate of many companies in
various industries including insurance, real estate, beach and hotel resorts,
pharmaceuticals, food and beverages, etc.. The Madina Group and Bank AI-Madina together employed more than 1200 employees.