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Banks in
Lebanon
are
mainly playing a traditional role of society's financial
go-between. They are playing this role in an open and liberal
financial market which promotes competition, and since peace was
reestablished in 1991, the concerned official authorities, the
Association of banks and banks have made considerable efforts to
improve fundamentally the competitive structure and means of
operations of the Lebanese banking industry. With 55 active
commercial banks and 12 specialized
banks, the Lebanese Banking sector currently employs more than
17660
individuals in 872 branches conveniently spread throughout the
country, and manages the equivalent of USD 90 billion in assets
nation-wide.
Foreign representation is important and considerable and it is
either in the form of a foreign bank maintaining branches in
Lebanon (11 banks) or equity stakes in several local banks. 16
foreign banks have also a representation office in Lebanon.
In
a sense, the Lebanese Banking System possesses the Bank
Culture that helped it develop, prosper and maintain the
soundness to the system through the application of Prudential
Practices that positively shows in its Services
Network and Activities
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