Lebanon Loses Distinguished Statesman Michel Bashir Al-Khoury, Former Central Bank Governor

Central Bank Governor Karim Saeed and the Central Council expressed deep sorrow in a statement mourning the death of Sheikh Michel Bashir Al-Khoury, the former governor of Lebanon's central bank.

He passed away on July 4, 2026, at the age of 99.

The Central Bank distributed a biography detailing his life, noting that Sheikh Michel Al-Khoury was born on November 24, 1926. He was the son of Bashir Al-Khoury, Lebanon’s first president following independence, and later succeeded his father as head of the Constitutional Bloc.

His public service career included pivotal roles in Lebanon’s modern history. He served as Minister of National Defense from December 1965 to April 1966. He was appointed twice as governor of the central bank: first from 1978 to 1983 during the darkest years of the Lebanese civil war, including the critical events of 1982 which posed severe challenges to the national economy; and again from 1991 to 1993, when he was tasked with leading the bank through the sensitive post-war period, focusing on establishing monetary stability and rebuilding the bank’s foreign currency reserves before stepping down in 1993.

The statement highlighted that with his passing, Lebanon lost one of its distinguished statesmen, whose career was marked by integrity, wisdom, and steadfast dedication to serving the state.

It added that Sheikh Michel Al-Khoury embodied the highest values of trustworthiness, uprightness, and noble ethics in all his responsibilities, always prioritizing national interest above all else.

His life was described as a model of public service free from personal gain, as he neither sought private benefit nor personal glory, dedicating his efforts quietly and steadily to strengthening Lebanese state institutions and serving the public good with devotion and honor.

The Central Bank paid tribute to his memory, stating that he will remain an example of refined character, moral courage, and principled steadfastness, and that his legacy stands as a testament to integrity, humility, and sincere loyalty to Lebanon.

The statement concluded with a prayer for mercy upon the deceased and expressed hope that his memory will endure as an eternal example of honor, integrity, and faithfulness to the Lebanese Republic.