Banque du Liban

Banque du Liban (مصرف لبنان; English: Bank of Lebanon) is the central bank of Lebanon. It was established on August 1, 1963, and became fully operational on April 1, 1964. It has been headed by Wassim Mansouri since 2023. One of the main responsibilities of the bank is issuing Lebanon's currency, the Lebanese Pound. Other responsibilities include maintaining monetary stability, regulation of money transfers, and maintaining the soundness of the banking sector. Banking is a very important part of Lebanon's economy with over 100 different banks, which makes the role of BdL particularly important. It currently owns 99.37% of the shares of Lebanon's national carrier, Middle East Airlines. The BdL is also the dominant shareholder of the Intra Investment Company (IIC) which in turn owns 53% of Casino du Liban, making it the only central bank worldwide to rule over a Las Vegas-style gambling casino. Besides the main branch in Beirut, it has branches in Aley, Baalbeck, Bikfaya, Jounieh, Nabatiye, Sidon, Tripoli, Tyre, and Zahlé. Ottoman domination of Lebanon, which lasted for more than four centuries, was brought to an end on October 6, 1918, with the entry of the Levant Marine Division into Beirut. The paper money issued by the Turkish Treasury, with a forced exchange rate, suffered the same fate. In order to normalize economic life in the occupied territories and cover the expenses of the allied forces, British authorities imposed the banknotes of the National Bank of Egypt, the Egyptian currency having been, since October 30, 1916, closely linked to sterling and entirely covered by securities issued in sterling. In accordance with the convention signed between the French and the British governments on September 15, 1919, a new occupying authority started to rule Lebanon. French troops replaced the British, under the command of General Gouraud, who was appointed on October 12, 1919, as "High-Commissioner of the French Republic in Syria and Cilicia, and Commander-in-Chief of the Levant Army".