According to “Lebanon This Week” issued by Byblos Bank, Central Bank Governor, Riad Salameh, announced the launching of the Secure Information Technology Infrastructure (SITI) project that will provide the necessary support for the Secure Electronic Banking and Information for Lebanon (SeBIL) initiative. In fact, The Central Bank launched SeBIL to provide Lebanon’s financial sector with a secure platform for electronic banking and e-services.

The goal of this initiative is to meet the existing and future market needs of the financial and banking sectors, to serve the domestic market requirements, and then extend them into regional and international markets. SITI will provide the Central Bank with a solid infrastructure for secure transactions, allowing the bank to offer a wide range of electronic banking services through the principles of confidentiality, authenticity, integrity, non-repudiation, and availability.

In turn, SeBIL will help in electronic payment and electronic systems, real-time transaction settlement, electronic reporting, treasury and asset management, decision support systems, and automated clearing.

Furthermore, a fully operational SeBIL system will also allow the public and private sectors to provide automated new services such as government-to-business (G2B), government-to-citizen (G2C), business-to-government (G2G), business-to-business (B2B), business-to-consumer (B2C), citizen-to-government (C2G), and consumer-to-consumer (C2C). SITI will eventually provide the country with common platform and common standards governing electronic services activity in Lebanon.