1. THE GOVERNOR AND VICE-GOVERNORS

The Banque du Liban is managed by the Governor assisted by four Vice-Governors,and 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 Current Council is composed of: