12 of decree No. 5451 dated 26 August 1994, offer exemptions from income tax on all interest and revenues earned on all types of accounts opened in Lebanese banks. On the first of April 1975, decree No. 29 established a free banking zone by granting the Lebanese government the right to exempt non-residents' deposits and liabilities in foreign currency from: the income tax on interest earned, the required reserves imposed by the Banque Du Liban by virtue of article 76 of the Code of Money and Credit, the premium of deposit guarantee imposed on bank deposits to the profit of the National Deposit Guarantee Institution. Tourism The tourism industry in Beirut has been historically important to the local economy and remains to this day to be a major source of revenue for the city, and Lebanon in general. Before the Lebanese Civil War, Beirut was widely regarded as the "Paris of the Middle East," often cited as a financial and business hub where visitors could experience the Levantine Mediterranean culture. Beirut's diverse atmosphere and ancient history make it an important destination which is slowly rebuilding itself after continued turmoil. However, in recent times, certain countries, such as the United States, have frequently placed Lebanon, and Beirut in particular, on their travel warnings lists due to the many car bombings and orchestrated acts of political violence. According to the 2012 tourist statistics, 34% of the tourists in Beirut came from states within the Arab League, 33% came from European countries (mainly France, Germany, and Britain), and 16% from the Americas (about half of which are from the United States). The largely pedestrianized Beirut Central District is the core of the Beirut tourism scene. The district is a cluster of stone-façade buildings lining arcaded streets and radial alleyways. The architecture of the area is a mix of French Architecture and Venetian Gothic architecture mixed with Arabesque and Ottoman Architecture. The district contains numerous old mosques and crusader churches, as well as uncovered remnants and ruins of the Roman era. The District contains dozens of restaurants, cafes and pubs, as well as a wide range of shopping stores mainly in Beirut Souks. High-rise hotels and towers line the district's New Waterfront, marina and seaside promenade. Another popular tourist destination in Beirut is the Corniche Beirut, a pedestrian promenade that encircles the capital's seafront from the Saint George Bay in the north all the