Category: Banks. Country: Lebanon.
The Banque du Liban was established by the Code of Money and Credit promulgated on 1st August 1963, by Decree no. 13513. It started to operate effectively on 1st April, 1964. BDL is a legal public entity enjoying financial and administrative autonomy. It is not subject to the administrative and management rules and controls applicable to the public sector. Its capital is totally appropriated by the State. The BDL is vested by law with the exclusive right to issue the national currency. As stipulated by article 70 of the Code of Money and Credit, the BDL is entrusted with the general mission of safeguarding the national currency in order to ensure the basis for sustained social and economic growth. This mission consists specifically in : the safeguard of monetary and economic stability, the safeguard of the soundness of the banking sector, the development of money and financial markets, the development and regulation of the payment systems and instruments, the development and regulation of money transfer operations including electronic transfers. Development and regulation of the clearing and settlement operations relative to different financial and payment instruments and marketable bonds. The BDL is endowed by law, with the prerogatives to fulfill its mission. It can use all measures it deems appropriate to ensure exchange rate stability, specifically the intervention in the foreign exchange market by buying and selling foreign currencies. The BDL controls bank liquidity by adjusting discount rates, by intervening in the open market, as well as by determining credit facilities to banks and financial institutions. It regulates banks' credit in terms of volume and types of credit, by imposing credit ceiling, by directing credits towards specific purposes or sectors and setting the terms and regulations governing credits in general.
Address: Masraf Lubnan street P.o.Box 11 5544 Beirut, Phone: 961 3 791333
