ACSB International has announced that the American University of Beirut (AUB) has earned its accreditation for its Olayan School of Business. AUB is the first university in Lebanon to earn such an accreditation. Founded in 1916, AACSB International is the longest serving global accrediting body for business schools that offer undergraduate, master's, and doctoral degrees in business and accounting. “AACSB congratulates the American University of Beirut and Dean George Najjar on becoming the first academic institution in Lebanon to achieve accreditation, and welcomes them into the AACSB family of internationally accredited business schools,” said John J. Fernandes, president and chief executive officer of AACSB International. “AACSB accreditation represents the highest achievement for an educational institution that awards business degrees. Dean Najjar and the faculty, directors, and administrative staff of AUB are to be commended for their role in earning initial accreditation.” AACSB accreditation is the hallmark of excellence in business education and has been earned by less than five percent of the world’s business schools. There are 567 business schools in 33 countries that maintain AACSB accreditation. Achieving accreditation is a process of rigorous internal review, evaluation, and adjustment and can take several years to complete. During these years, the school develops and implements a plan to meet the 21 AACSB standards requiring a high quality teaching environment, a commitment to continuous improvement, and curricula responsive to the needs of business. AACSB International is an association of more than 1,100 educational institutions, business, and other organizations in 70 countries that are dedicated to the advancement of management education worldwide.