Islamic Banking Department

The Islamic Banking department at the BCCL was established in 2012. Its mission is to put in place a sound and effective framework of supervisory policies, standards, controls and instruments that conform to international best practices and comply with Islamic banking activities and applicable laws and regulations in Lebanon.

The main functions of the Islamic Banking department are:

  • On-site Supervision of Islamic Banks: The department conducts full onsite examination of Islamic banks. The study covers, in addition to the portfolio assessment, risk management, corporate governance, anti-money laundering, management, capital adequacy, liquidity, compliance with prudential ratios, laws and regulations.
  • Special on site Missions to address specific regulatory issues.
  • Special Reporting System: The department is developing a special reporting system for Islamic banks that takes into consideration the specificities of Islamic Banking.
  • Financial Analysis Template: The department is in the process of preparing a financial analysis framework for Islamic banks that covers all risks that banks are subject to, and the additional risks that Islamic banks bear, due to their specific modes of operations and transactions.
  • Review and Update Guidelines and Regulations: The department reviews and updates continuously the guidelines and regulations applicable to Islamic banks.