In an area dominated by authoritarian or militarist regimes, the Lebanese capital was generally regarded as a haven of libertarianism, though a precarious one. With its seaport and airport—coupled with Lebanon's free economic and foreign exchange system, solid gold-backed currency, banking-secrecy law, and favourable interest rates—Beirut became an established banking centre for Arab wealth, much of which was invested in construction, commercial enterprise, and industry (mostly the manufacture of textiles and shoes, food processing, and printing). The economy of Beirut is diverse, including publishing, banking, trade and various industries. During that period, Beirut was the region's financial services center. At the onset of the oil boom starting in the 1960s, Lebanon-based banks were the main recipients of the region's petrodollars.