Middle East Economic Survey

VOL. XLVII

No 36

6-September-2004

REGIONAL BANKING

CBL Issues Regulations For Islamic Banks In Lebanon

The Central Bank of Lebanon (CBL) has issued two circulars (Nos 8828 and 8829) to regulate the establishment and operation of Islamic banks in Lebanon, which will have to comply with the CBLs Money and Credit Code, the law which regulates the operations of commercial banks. According to these circulars, any Islamic bank seeking to set up business in Lebanon must have a...