name and
backgroundFull name of the bank: Bank of Lebanon (Bank of Lebanon)
Founded in 1963, the Bank of Lebanon is the central bank of Lebanon, which is responsible for overseeing the country's monetary policy, financial stability and banking supervision.
Headquarters location: Beirut, Lebanon.
Shareholder Background: As the central bank, the Bank of Lebanon is a state-owned institution that is directly owned and controlled by the Lebanese government. It is not listed to the outside world and is responsible for the implementation of the country's economic and monetary policies.
Coverage area: Bank of Lebanon provides services throughout Lebanon, and it also cooperates with a number of international banks and financial institutions around the world to support cross-border capital flows. Although its influence is mainly concentrated in Lebanon, it has a certain position in the Middle East and international financial markets.
Number of offline branches: As a central bank, the Bank of Lebanon itself does not have retail banking outlets in the traditional sense. Its role is to regulate the financial system and provide services to other banks. However, commercial banks throughout Lebanon are subject to its supervision and direction.
ATM distribution: Lebanon's ATM network is operated by commercial banks, which primarily provide the regulatory framework and guidance.
Regulation and compliance
by regulator: The Bank of Lebanon is regulated by decree of the Government of Lebanon and the Central Bank. Its operations are supervised by the Lebanese Financial Supervisory Authority and maintain close ties with international financial institutions such as the International Monetary Fund (IMF).
Participation in the Deposit Insurance Scheme: The Bank of Lebanon does not directly provide a deposit insurance scheme, but at the national level, the Commercial Bank of Lebanon participates in the Deposit Protection Scheme to ensure the safety of depositors' funds.
Recent Compliance Record: The Bank of Lebanon has recently faced certain compliance challenges, mainly related to the struggling situation of the Lebanese economy and the stability of the financial system. However, the Bank remains committed to transparency and good international cooperation and to the stability of the financial system.
financial
healthCapital adequacy ratio: As a central bank, the Bank of Lebanon's capital adequacy ratio objective is primarily to ensure the country's financial stability. Despite the challenges faced by Lebanon's economy in recent years, banks have maintained a relatively robust capital structure.
Non-performing loan ratio: Due to the unstable economic environment in Lebanon, the non-performing loan ratio is relatively high, especially in times of political and economic turmoil, which can affect the asset quality of commercial banks.
Liquidity Coverage Ratio: The Bank of Lebanon exercises strict controls over the liquidity coverage ratio to ensure that the financial system is able to cope with sudden financial stress. Banks and financial institutions generally have adequate liquidity responses.
Deposit & Loan
ProductsDeposit Class:
demand/time deposit rates: The interest rate set by the Bank of Lebanon is relatively stable, However, due to inflation and interest rate fluctuations in Lebanon, deposit rates are relatively high. The specific interest rate is set by the commercial bank itself.
Specialty products such as high-yield savings accounts and CDs: Some Lebanese commercial banks offer high-yield savings accounts and CDs, especially for high-net-worth clients.
Loans:
interest rates and thresholds for housing loans, car loans, and personal credit loans: Loan products are mainly provided by commercial banks. Interest rates are usually higher, especially given the problems of inflation and currency depreciation in Lebanon. The threshold for housing loans and car loans is also higher, requiring stricter credit checks.
Whether or not to offer flexible repayment options: Some commercial banks offer flexible repayment options, especially for long-term loans, but the exact conditions vary from bank to bank.
list of common fees
account management fees (monthly/annual fee): account management fees vary by bank and account type. Some premium accounts offer no annual fee, but for regular accounts, annual and monthly fees are usually more common.
Transfer fees (domestic/cross-border): Domestic transfer fees are relatively low, but cross-border transfer fees can be higher, especially in times of economic instability.
Overdraft fee and ATM inter-bank withdrawal fee: Overdraft fee and ATM inter-bank withdrawal fee are determined according to different policies of commercial banks. In general, these fees are higher, especially when making international transactions.
Hidden Fee Alert: Some accounts may have a minimum balance limit, and there will be an administrative fee if the minimum balance is not reached.
Digital Service Experience
APP and Online Banking:
user rating: The Bank of Lebanon does not directly provide retail-grade APP or online banking services. Its main services are provided through a commercial banking platform.
Core functions: Some commercial banks provide basic functions including real-time transfers, bill management, etc., and some banks also integrate investment tools, but these functions are mainly provided by commercial banks.
Technological innovation: The Bank of Lebanon does not directly engage in technological innovation, but its regulatory framework encourages commercial banks to adopt innovative technologies such as AI customer service and robo-advisory.
Customer Service
Quality Service Channels: The Bank of Lebanon and its regulated commercial banks provide 24/7 telephone support and live chat services. Social media is relatively responsive.
Complaint Handling: The complaint processing time of banks varies from bank to bank. Due to the volatility of the financial markets in Lebanon, the efficiency and satisfaction of handling complaints may be affected somewhat.
Multi-language support: Bank of Lebanon's services are available in Arabic, French, and English for ease of use by local and cross-border users.
security measuresFunds
are safe: The deposit insurance program covers a certain amount of deposits. The Bank of Lebanon uses advanced anti-fraud technology to safeguard the security of the banking system. Real-time transaction monitoring is a key technology to prevent financial crime.
Data security: The Bank of Lebanon and the financial institutions it regulates generally adhere to international standards, such as ISO 27001 certification, to ensure the security of data. Despite this, Lebanon's financial system has experienced data breaches in the past.
Featured Services and Differentiated
Market Segments: The Bank of Lebanon and its regulated commercial banks provide some services for specific groups, such as fee-free student accounts and exclusive wealth management products for the elderly.
High-net-worth services: Some commercial banks provide private banking services to provide customized wealth management solutions for high-net-worth clients.
