Higher Banking Commission

The Higher Banking Commission was established at Banque du Liban, in accordance with article 10 of Law No. 28/67. Its main role is to impose administrative penalties on financial companies(1) which violate their own bylaws, the provisions of the Code of Money and Credit or the measures imposed by Banque du Liban, or which submit incomplete or false reports or information. . The Commission may also impose penalties on the auditors of these companies.
The decisions of the Higher Banking Commission are final and irrevocable.
The administrative penalties range from warnings to radiation from the list of financial companies.

The Higher Banking Commission is composed of :

	the Governor of the Banque du Liban, as chairman of the Commission;
	a Vice-Governor selected by the Central Council of Banque du Liban;
	the Director General of the Ministry of Finance;
	a high-ranking judge, with at least 10 years of experience, to be appointed by Decree following the approval of the Higher Judicial Council;
	a member of the Banking Control Commission, nominated by the Association of Banks in Lebanon; and
	the Chairman of the National Deposit Guarantee Institution (NDGI).

Currently, the Higher Banking Committee is composed of:

1- Financial companies (according to Law No 520 dated 6/6/1996) are those companies whose main object is the management of movable assets and investments, the financial intermediation and the management of syndicated loans and collective investment schemes, the issuance and marketing of debt securities of all kind, the sale and repurchase of financial instruments, the granting of facilities and credits of all kind in a professional capacity and other related operations.