The Governing Body

1. The Governor and Vice-Governors

The Banque du Liban is managed by the Governor who is assisted by four Vice-Governors, as well as by the Central Council.

The Governor is the legal representative of the Banque du Liban, and has extensive authority on the management of the Bank. He is entrusted with the enforcement of the Code of Money and Credit, and the implementation of the Central Council's resolutions. Upon the proposal of the Minister of Finance, the Governor is appointed by decree sanctioned by the Council of Ministers, for a renewable six- year term.

After the consultation with the Governor and upon the proposal of the Minister of Finance, the Vice-Governors are appointed by decree sanctioned by the Council of Ministers for a renewable five-year term. They assist the Governor in managing the Bank, carrying out functions specified by the Governor. In addition, they assume their duties as members of the Central Council.

2. The Central Council

The Central Council sets the monetary and credit policies of the Bank, including money supply, and discount and lending rates. It discusses and decides, among other things, on issues concerning the banking and financial sectors, the establishment of clearing houses, the issuing of currency and on loan requests by the public sector entities. The Council decides also on the rules and procedures that govern the staff and operations of the Bank, and on its annual budget and accounts.The members of the Central Council are:

 

	the Governor, as chairman.
	the four Vice-Governors.
	The Director General of the Ministry of Finance, ex officio but strictly as member of the Council.
	the Director General of the Ministry of Economy and Trade, ex officio but strictly as a member of the Council.

The Council is currently composed of:

 

	Riad T. Salameh*              Governor
	Ahmad Jachi                     1st Vice-Governor
	Majid Joumblat                   2nd Vice-Governor
	Marwan M. Nsouli              3rd Vice-Governor
	Alain Balian                        4th Vice-Governor
	Alain Biffani                       Director General of the Ministry of Finance
	Fadi Makkeh                     Director General of the Ministry of Economy and Trade

Since its establishment and until 2003, nine governing bodies have successively managed the Banque du Liban.

1. P.Takla resigned with effect as of 16 June 1967(Decree no 3537 dated 16/6/1967)
2. E. Sarkis was appointed as governor per interim on 18 December 1967(Decree no 1910 dated 18/12/1967)
3. E. Sarkis resigned with effect as of 2 June 1976( Decree no 10912 dated 2/6/1976). He was elected president of the Lebanese Republic for a six year term(1976-1982)
4. Mr. J. Oughourlian was appointed governor per interim from 12/6/1976 till 5/9/1978
5. M. El Khoury term ended on 6/9/1984. He was asked by the Council of Ministers to remain in office until a new governor is appointed(Minutes of the meeting of the Council of Ministers 4/9/1984)
6. M. EL Khoury and the four vice-governors resigned on 7 June 1993 with effect as of 1 August 1993(Decrees no: 3541 and 3542 dated 7/6/1993)
7. N. Saidi was appointed as Minister of Economy and Trade and Minister of Industry on December 4, 1998 (Decree no 4 dated 4/12/1998). His position as First vice-governor was maintained by virtue of Decree no 64 dated 11/1/1999)
8. C. Moharram resigned with effect as of 5 January 1978 (Decree no 803 dated 5/1/1978) and F. El Solh was appointed on 16 January 1978(Decree 831 dated 16/1/1978)
9. M. Chatah resigned on 8 May 1997. He was appointed ambassador of Lebanon to the United States
10. M. Nsouli was appointed as third vice governor with effect as of August 1, 1998(Decree no 12697 dated 23/7/1998)
11. A 4th vice-governor was appointed for the first time on 6 May 1985(Decree no 2478 dated 6/5/1985)