In 2023, Wassim Mansouri stepped up as interim governor of the Banque du Liban after Lebanon failed to name a successor to Riad Salameh, whose term finished in July 2023.

[2] Salameh, who was chairman for 30 years, has been accused of corruption, money laundering and running the largest Ponzi scheme in history; he was additionally labeled "the world’s worst central banker".

Ottoman domination of Lebanon, which lasted for more than four centuries, was brought to an end on October 6, 1918, with the entry of the Levant Marine Division into Beirut.

In order to normalize economic life in the occupied territories and cover the expenses of the allied forces, British authorities imposed the banknotes of the National Bank of Egypt, the Egyptian currency having been, since October 30, 1916, closely linked to sterling and entirely covered by securities issued in sterling.

In accordance with the convention signed between the French and the British governments on September 15, 1919, a new occupying authority started to rule Lebanon.

In order to replace the Egyptian pound, the French government decided, by Decree N° 129 issued by the High Commissioner on March 13, 1920, to endow Syria with a national currency.

The Central Council sets the monetary and credit policies of the Bank, including money supply, and discount and lending rates.

The CMA Board has extensive powers that aim to enhance investor protection and promote investment in the financial markets.

The CMA board has the power to regulate governance-related issues, such as the obligations of financial instrument issuers to publish and disclose to the public price-sensitive information.

It is the centerpiece of Lebanon's anti-money laundering (AML) and combating the financing of terrorism (CFT) regime, a platform for international cooperation and plays a vital role in safeguarding concerned sectors from illicit proceeds.

AML/CFT supervision via compliance examinations at banks and other reporting entities to ensure proper implementation of prevailing regulations is also among its tasks.

[citation needed] The Higher Banking Commission was established at Banque du Liban in 1967, pursuant to Article 10 of Law No 28/67.

[18] Many Lebanon's observers pointed that the initiative lacked transparency: There has been no clear indication of the number of start-up funded, jobs created and money spent.

[19][20] The initiative was unable to overcome a major hurdle of the Lebanese economy: banks' extremely risk-averse and conservative attitude towards investment.

[22] Here are some of the start-ups that are innovative Lebanese companies working in the knowledge economy sector and have contributed to creating jobs.

[29] In November 2020, The Wall Street Journal reported that the United States and other Western countries demanded a forensic audit of the Banque du Liban (BDL), as it was accused of money laundering, corruption and links to Hezbollah.

[33] Meanwhile, France, Germany, and Luxembourg were investigating Salameh and several close associates over alleged financial crimes, including illicit enrichment and money laundering of $330 million.

France and Germany issued Interpol notices for Salameh in May 2023; however, Lebanon does not hand over its citizens to foreign countries.