Lebanese Central Bank

A year after Wassim Mansouri became governor of the Bank of Lebanon, depositors remain disappointed. His is an unenviable task, upon which rest the hopes of many, but reform is needed

The Banque du Liban's reputation at home and abroad is in tatters. To restore it, the next governor should be exceptional – independently minded, able to say 'no' and perhaps even a foreigner.

Circular 165 is, at first glance, a technical note on procedure from the embattled central bank. But its proposals to attract dollars will have immediate and far-reaching consequences.