Given the frequent security turmoil it has faced, the Lebanese banking system has adopted a conservative approach, with strict regulations imposed by the central bank to protect the economy from political instability. These regulations have generally left Lebanese banks unscathed by the Financial crisis of 2007–2010. Lebanese banks remain, under the current circumstances, high on liquidity and reputed for their security.[11] In late 2008, Moody's shifted Lebanon's sovereign rankings from stable to positive, acknowledging its financial security.[12] Moreover, with an increase of 51% in the Beirut stock market, the index provider MSCI ranked Lebanon the world's best performer in 2008.[13] Lebanon is one of the only seven countries in the world in which the value of the stock market increased in 2008.[13] The Lebanese economy experienced continued resilience, growing 8.5 percent in 2008 and seven percent in 2009. According to a report by the World Bank, GDP growth in 2010 should remain steady at seven percent.[14] The report cited multiple factors for Lebanon's recent and predicted growth: less-than-expected declines in exports, steady remittances, increased foreign investment, strong domestic demand, booming tourism, and a thriving financial sector. Since Lebanon enjoyed solid economic performance despite a global recession, The World Bank expects continued growth as the global economy improves in 2010.[15]
