Middle East Financial Services, Inc. is a community-based organization with an office locations in Illinois. Both the employees and management participate in not-for-profit organizations to better serve the community. With over Eighteen years of experience, Middle East Financial Services, Inc. has made its niche in the market by prioritizing customer confidentiality, excellent customer service, and effective communication through the use of native Arabic and English. Our friendly staff is able to accommodate your needs, provide you with information, and expedite a resolution if a problem arises. Middle East Financial Services, Inc. strives to improve procedures and methods by implementing state of the art technology to achieve customer satisfaction while maintaining profitability.
Middle East Financial Services Inc. (MEFS) received its license for Money Transfer 12/15/2000, the business operated without customer complaints or any governmental issues, normal IRS compliance audits were conducted over the years. MEFS is licensed by Illinois Department of Financial and Professional Regulations (IDFPR).
On July 7th 2016 a sudden and unannounced audit was conducted, key employees were on vacation, information was requested that needed to be gathered by key employees, MEFS was in the process of cooperating with the auditor and providing the required information. On July 15, 2016 IDFPR issued a suspension order based on the initial findings of the audit (which was not finished). On January 24 2017, an amended suspension order was issued.
MEFS ceased its operation.
On March and April of 2017 an administrative hearing was held by IDFPR Administrative Law Judge (ALJ). The hearing was held over three days.
On November 9, 2017, the Director of IDFPR issued an order to Reinstate the license, based on the Administrative Law Judge (ALJ) report;
The report contained 116 pages discussing every allegation in details. The Judge Recommended THE REINSTATEMENT OF THE LICENSE and for MEFS to pay a fine of $7000.00.
The Suspension Order contained Seventeen alleged violations, the judge found evidence of Two violations; the company was fined $7000.00. AJL found NO EVIDENCE OF ANY VIOLATION OF LAW in the other fifteen allegations.
THE LICENSE WAS REINSTATED AND MEFS CAN OPERATE. Further detailed information can be provided upon request.