A Comprehensive Guide to Banque du Liban's Functions

Banque du Liban plays a vital role in the country's economy, and understanding its functions is essential for anyone interested in Lebanon's financial landscape.

As the central bank of Lebanon, Banque du Liban is responsible for regulating and supervising commercial banks in the country, ensuring they operate within the law and maintain a stable financial system.

The bank is also responsible for managing the country's foreign exchange reserves, which are used to maintain the Lebanese pound's value against other currencies.

Banque du Liban has a dual mandate: to promote economic growth and stability, while also maintaining price stability.

Banque du Liban has a significant role in Lebanon's economy, and its investment and policy decisions have a direct impact on the country's financial stability.

The bank's investment policies are governed by the Central Bank Law, which outlines the bank's responsibilities and objectives.

Banque du Liban's investment portfolio is managed by the bank's investment committee, which is responsible for making decisions on investments and asset allocation.

The bank's policy decisions are also influenced by the country's economic conditions, including inflation rates and exchange rates.

Banque du Liban has implemented various policies to stabilize the Lebanese pound and maintain financial stability, including setting interest rates and regulating foreign exchange transactions.

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The Higher Banking Commission plays a crucial role in regulating the banking industry in Lebanon. It was established in 1967, following the passage of Law No 28/67.

The commission is composed of six members, each with a specific role. The Governor of the Banque du Liban serves as the Chairman, while a vice-governor is selected by the Central Council of the Banque du Liban.

The Director General of the Ministry of Finance is also a member, as is a high-ranking judge with at least ten years of experience. This judge is approved by the Higher Judicial Council and appointed by decree.

A member of the Banking Control Commission, nominated by the Association of Banks in Lebanon, also sits on the commission. The chairman of the National Deposit Guarantee Institution (NDGI) completes the lineup.

Here's a breakdown of the Higher Banking Commission's members:

Startup investment policy is a crucial aspect of any business, and it's essential to have a clear understanding of the rules and regulations that govern it.

Investors should be aware that startup investment policy is closely tied to the company's overall strategy and goals.

In the article, it's mentioned that startups can be eligible for government grants and tax incentives, which can significantly impact their investment policy.

A well-defined startup investment policy can help entrepreneurs make informed decisions about how to allocate their resources and manage risk.

Startups should also consider the type of investors they want to attract, as this can impact their investment policy and overall growth.

According to the article, angel investors and venture capitalists have different investment strategies, which can influence a startup's investment policy.

The Banque du Liban has been at the center of several controversies and allegations in recent years.

Allegations of misconduct were first reported in 2020 by The Wall Street Journal, which accused the bank of money laundering, corruption, and links to Hezbollah.

In 2023, a forensic audit revealed years of misconduct by the bank's former governor Riad Salameh, including $111 million in "illegitimate commissions".

The audit also detailed the bank's practice of financial engineering, which allowed local banks to attract dollar deposits from abroad and then deposit them at the BDL, disguising losses of $76 billion.

Salameh claimed the bank's central council had found financial engineering to be the "best response to a deteriorating balance of payment", but BDL has maintained that the operations are legal.

The US, UK, and Canada imposed sanctions on Salameh and his associates in August 2023 due to corruption allegations.

France, Germany, and Luxembourg were also investigating Salameh and his associates over alleged financial crimes, including illicit enrichment and money laundering of $330 million.

Interpol notices were issued for Salameh in May 2023 by France and Germany, but Lebanon does not hand over its citizens to foreign countries.

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The Banque du Liban is Lebanon's central bank, established in 1943. It's responsible for managing the country's monetary policy.

The bank's main goal is to maintain price stability and ensure the stability of the Lebanese pound. It achieves this by regulating the money supply and setting interest rates.

As a central bank, the Banque du Liban also oversees and supervises commercial banks in Lebanon, ensuring they operate safely and soundly.

The Banque du Liban has a governing body that plays a crucial role in its management. The Governor is the legal representative of the bank and has extensive authority over its management.

The Governor is appointed by decree sanctioned by the Council of Ministers, typically for a renewable six-year term. This appointment is made upon the proposal of the Minister of Finance.

The Governor is always a Maronite Christian, a convention that has been observed in the past. The Governor's role is to enforce the Code of Money and Credit and implement the Central Council's resolutions.

The Governor is assisted by four vice governors, who are also appointed by decree sanctioned by the Council of Ministers. These appointments are typically made for a renewable five-year term upon the proposal of the Minister of Finance.

The vice governors assume their duties as members of the Central Council, in addition to assisting the Governor in managing the bank. They carry out functions specified by the Governor and help with the bank's overall management.

So, you're wondering what all these letters and numbers mean? A SWIFT code is a standard format for Business Identifier Codes (BIC) used by banks and financial institutions to identify themselves globally.

It's like a unique ID that says who and where they are. Banks use these codes to exchange messages between each other.

SWIFT codes are used when transferring money between banks, particularly for international money transfers or SEPA payments. This makes it easier for banks to process transactions.

Banks use these codes to identify themselves, making it easier for you to send and receive money internationally.

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Banque du Liban's SWIFT code is BDLCLBBXFXD.

The bank's name is BANQUE DU LIBAN.

The branch name is also BANQUE DU LIBAN.

The branch address is RUE BANQUE DU LIBAN HAMRA.

The branch code is FXD.

Banque du Liban is located in Beirut, Lebanon.

Here are the details of the bank's SWIFT code broken down:

Lebanon's Monetary Situation is a pressing concern, with the country's economy facing significant challenges. The Lebanese pound has lost over 90% of its value since 2019, making it one of the worst performing currencies in the world.

The country's high inflation rate, which exceeded 85% in 2020, has severely impacted the purchasing power of Lebanese citizens. This has led to a significant increase in the cost of living.

The government's decision to impose capital controls in 2019 has further exacerbated the situation, limiting access to foreign currency and making it difficult for people to access their savings. This has led to widespread protests and civil unrest.

The Banque du Liban, Lebanon's central bank, has been criticized for its handling of the economic crisis. The bank's decision to maintain a fixed exchange rate has been seen as a major contributor to the crisis, as it has allowed the government to print more money and fuel inflation.

The country's debt-to-GDP ratio has risen to over 170%, making it one of the highest in the world. This has led to a significant increase in the cost of borrowing and has made it difficult for the government to access international credit markets.

La décision d'annuler le retrait a été annoncée hier, mercredi. La Banque du Liban a publié une circulaire demandant aux banques de suspendre les retraits des dépôts en dollars.

Les banques libanaises imposent des restrictions sur les retraits en dollars, et autorisent les retraits en livres libanaises uniquement. Le taux de change pour les retraits en livres libanaises est de 3 900 livres pour un dollar.

La Banque centrale n'a pas précisé la nature des devises qui seront versées aux propriétaires des dépôts, et selon quel taux de change. Cela a fait craindre aux déposants en devises étrangères de ne pouvoir effectuer de retraits qu'en fonction du taux de change officiel.

L'Association des déposants libanais a annoncé son refus d'effectuer les retraits en livres libanaises concernant les dépôts en devise. Le retrait est payé uniquement dans la même devise que le versement caution, pas en livre libanaise.

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