Financial Sector

Lebanon’s economy is backed by a reputable, efficient and professional banking sector noted for its secrecy laws and full currency convertibility policies which have ensured monetary stability and instilled consumer and investor confidence. The banking industry plays key roles in the Lebanese economy where banks dominate the financial system and are the major providers of credit to individuals and businesses. The banking sector has also been a major source of financing for the Lebanese government, through purchases of treasury bills. Lebanese banks, like other financial institutions in Lebanon, abide by an extensive set of laws, regulations, and periodical circulars set by the Central Bank of Lebanon (BDL). The Lebanese Central Bank is continuously praised by international rating agencies for its outstanding performance, meticulous and credible monetary policy and its role in protecting the Lebanese banking sector from international and domestic financial crisis.