In the closest and possibly most controversial presidential election in Lebanese history, Suleiman Frangieh was elected President of the Republic by the National Assembly on 17 August 1970, with a majority of one single vote. The presidency being the most powerful political institution in pre-1990 Lebanon the presidential race was of particular importance as it came after 12 years of continuous Shihabist rule (Fuad Shihab 1958-1964, and Charles Helou, 1964–1970). The two main opposing candidates emerged to be Elias Sarkis – then Governor of the Central Bank – backed by the Shihabi regime; and Suleiman Frangieh backed by the opposition.[3]