Financial Sector Assessment : Lebanon

Lebanon has maintained financial stability through repeated shocks and challenges for the last quarter century. Over time, macroeconomic and financial vulnerabilities have accumulated. Government debt and deposits at the Banque du Liban (BdL) accou...

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Main Authors:	World Bank, International Monetary Fund
Format:	Report
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	financial system banking banking reform crisis management debt management access to finance capital markets insurance small and medium-sized enterprises microfinance financial inclusion
Online Access:	http://documents.worldbank.org/curated/en/260481485486059075/Lebanon-Financial-Sector-Assessment http://hdl.handle.net/10986/26018

id	okr-10986-26018
recordtype	oai_dc
spelling	okr-10986-260182021-05-25T08:57:11Z Financial Sector Assessment : Lebanon World Bank International Monetary Fund financial system banking banking reform crisis management debt management access to finance capital markets insurance small and medium-sized enterprises microfinance financial inclusion Lebanon has maintained financial stability through repeated shocks and challenges for the last quarter century. Over time, macroeconomic and financial vulnerabilities have accumulated. Government debt and deposits at the Banque du Liban (BdL) account for close to half of aggregate bank assets and almost all banks have similar business models and risk profiles. Central bank policies help mitigate risks and maintain confidence. The banking system has proven resilient to domestic shocks and regional turmoil. Effective oversight and crisis management have underpinned stability. The banking sector is, directly and indirectly (through collateral), exposed to real estate. The housing segment has weakened, with declining prices in some market segments. Due to structural constraints, Lebanese capital markets remain under-developed. Certain improvements are still needed on the regulatory and supervisory front, including: (i) the creation of the Sanctioning Committee and Capital Markets Tribunal, (ii) implementation of a package of CMA regulations, (iii) enhancing the supervision of Mid clear, and (iv) cooperation with the Insurance Control Commission (ICC) to foster a growing and soundly regulated insurance and pension fund industry. In terms of access to finance, Lebanon stands above regional peers, but below upper middle income countries. Despite progress, access to finance for small and medium enterprises (SMEs) has still room for improvement. The micro finance industry plays an important role in financial inclusion and, while it does not represent a systemic risk, a well-calibrated regulatory requirement should be imposed to the main players. More can be done to foster financial inclusion within the strict anti-money laundering and terrorism financing regulatory framework. 2017-02-08T20:28:44Z 2017-02-08T20:28:44Z 2016-12 Report http://documents.worldbank.org/curated/en/260481485486059075/Lebanon-Financial-Sector-Assessment http://hdl.handle.net/10986/26018 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Financial Sector Assessment Program Middle East and North Africa Lebanon
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	financial system banking banking reform crisis management debt management access to finance capital markets insurance small and medium-sized enterprises microfinance financial inclusion
spellingShingle	financial system banking banking reform crisis management debt management access to finance capital markets insurance small and medium-sized enterprises microfinance financial inclusion World Bank International Monetary Fund Financial Sector Assessment : Lebanon
geographic_facet	Middle East and North Africa Lebanon
description	Lebanon has maintained financial stability through repeated shocks and challenges for the last quarter century. Over time, macroeconomic and financial vulnerabilities have accumulated. Government debt and deposits at the Banque du Liban (BdL) account for close to half of aggregate bank assets and almost all banks have similar business models and risk profiles. Central bank policies help mitigate risks and maintain confidence. The banking system has proven resilient to domestic shocks and regional turmoil. Effective oversight and crisis management have underpinned stability. The banking sector is, directly and indirectly (through collateral), exposed to real estate. The housing segment has weakened, with declining prices in some market segments. Due to structural constraints, Lebanese capital markets remain under-developed. Certain improvements are still needed on the regulatory and supervisory front, including: (i) the creation of the Sanctioning Committee and Capital Markets Tribunal, (ii) implementation of a package of CMA regulations, (iii) enhancing the supervision of Mid clear, and (iv) cooperation with the Insurance Control Commission (ICC) to foster a growing and soundly regulated insurance and pension fund industry. In terms of access to finance, Lebanon stands above regional peers, but below upper middle income countries. Despite progress, access to finance for small and medium enterprises (SMEs) has still room for improvement. The micro finance industry plays an important role in financial inclusion and, while it does not represent a systemic risk, a well-calibrated regulatory requirement should be imposed to the main players. More can be done to foster financial inclusion within the strict anti-money laundering and terrorism financing regulatory framework.
format	Report
author	World Bank International Monetary Fund
author_facet	World Bank International Monetary Fund
author_sort	World Bank
title	Financial Sector Assessment : Lebanon
title_short	Financial Sector Assessment : Lebanon
title_full	Financial Sector Assessment : Lebanon
title_fullStr	Financial Sector Assessment : Lebanon
title_full_unstemmed	Financial Sector Assessment : Lebanon
title_sort	financial sector assessment : lebanon
publisher	World Bank, Washington, DC
publishDate	2017
url	http://documents.worldbank.org/curated/en/260481485486059075/Lebanon-Financial-Sector-Assessment http://hdl.handle.net/10986/26018
_version_	1764460731867070464

Financial Sector Assessment : Lebanon

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