Beirut central bank. (The Daily Star/Mohammad Azakir)
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The appointment of a new five-member Banking Control Commission Thursday has been hailed by bankers and experts.The main duties of the commission are to supervise banks, financial institutions, money dealers, brokerage firms and leasing firms.One banker said that the commission was set up to guarantee the protection of both depositors and the banks themselves.Lebanese bankers have been urging the government to either extend the term of the old commission members or appoint new ones, noting that any further delay could affect the credibility of the banking sector.
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