Overview
LCC will assist its clients by offering them the required banking services for their business.
The Lebanese banking sector is the most powerful and successful in Lebanon’s history, and Lebanon has the most powerful banking secrecy in the world, implemented by its laws.
Banking secrecy
Under the laws, no person or group has the right to disclose the bank account details of any depositor. In general, Lebanon has not signed exchange of information with foreign governments, which gives the investor the privacy and secrecy required (unless exception).
Lebanese banks have all the confidence of their clients and depositors. Despite the various crises and political turmoil in the Middle East, the sector has remained resilient over the years and is one of the pillars of the Lebanese economy.
Stability and regulation
Banks operating in Lebanon have a high ratio of liquidity (primary liquidity in excess of 78 percent) and strong solvency, and Lebanese banks are known for their wise risk management and corporate governance — all under the supervision of the BDL, the central bank of Lebanon.
Lebanese banks are known as well to abide by international regulations and standards, especially the Basel I, II and III requirements.
Lebanese banks practise according to the regulations and circulars issued by the BDL, which aim to constantly enhance the level of the services given by local banks.
Expertise and reach
Lebanese banking is renowned for its highly qualified, educated personnel, which is reflected in the efficiency and quality of the banking services given.
From a financial performance perspective, and despite the prevailing local and regional instabilities, the consolidated balance sheet of commercial banks operating in Lebanon has grown and is in the hundreds of billions of US dollars.
Lebanese banking is known for its prominent position on both regional and international levels; Lebanese banks are constantly expanding in foreign countries and are well established in all parts of the world.