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Lebanese banks operating in Syria and Iraq surrounded by suspicion (Dif-Source)
28-04-2015 12:09 PM
Lebanon is expected to put banks under the microscope while hosting a forum next week for "cutting off the financing of terrorism under us warnings to Lebanese banks in financing Hezbollah and other terrorist organizations in neighboring countries that are active in Lebanese banks.
The Lebanese capital on Monday will host the next Forum "cutting off the financing of terrorism", organized by the Arabic Bank Union in cooperation with the World Union of Arab bankers.
The Forum will discuss the principles put forward by the us Treasury under the heading of "know your customer, client and customer" in accordance with the degree of risk, and how to learn banking operations that can be exploited and how to monitor suspicious or unusual operations.
And increased u.s. pressure recently to tighten sanctions against Hezbollah to exclude it from the international financial system and trapping ways of funding, and monitor the activity of Lebanese banks operating in troubled countries such as Syria and Iraq.
And a large crowd attended the Forum of representatives of Lebanese banks and Arabic under high frequency turbulence in the region and their implications for deep banking controls to track financial outlets that finance terrorist operations.
And the expectation that the Lebanese banks in particular due to the spread of its branches in neighbouring countries such as Syria and Jordan, Iraq and Turkey, and bank transfers and transfer funds, which underwent operations for international control and particularly American.
Lebanese authorities confirms compliance with procedures and international standards, as they seek to cope with the global trend of tightening global financial centres, mathema is currently happening with Switzerland, Luxembourg and Austria, for money laundering and terrorist financing.
Us Treasury Deputy Daniel ghlainrz warns Lebanese banks with branches in Iraq
The us House of representatives has given the Treasury Department greater authority to prosecute all banks in the world, including central banks, to apply sanctions against Hezbollah and funded by financial institutions.
The us Administration has welcomed the commitment of the Lebanese banks by world standards, but asked the Bank of Lebanon banks Association and take more care to avoid any future risks and for any penalties or limit of any kind on the Lebanese banking sector.
Deputy us Treasury Daniel ghlainrz had visited Lebanon recently and held talks with officials of the Central Bank and the Association of Lebanese banks.
He warned Lebanese banks with branches in Iraq risk deposit funds by organizations classified as terrorist and the transmission of funds to daash, Hezbollah and other terrorist organizations.
Ghlainrz stressed that the sanctions imposed by applicable laws, and that it cannot be removed or alleviated only by new laws issued by u.s. authorities and international institutions concerned with the international legislation.
The President of the Association of banks in Lebanon, Francois bassil said the safety performance of Lebanese banks and its attention to the movement of funds from either Iraq or any country in the world, and that Lebanon "is committed to international standards and steps to be careful."
He denied the Central Bank Governor Riad Salame there any money organizing daash in the Lebanese banking sector, and the Bank's regulations prevent the entry of illegal funds and punish anyone violating them.
He stressed that the banks are not prepared to sacrifice its reputation and that Washington recognizes that the funds which finance transition not daash Lebanon.
He said the safety of the world's confidence in Lebanon's economy and its banking sector, given the positive factors that helped him avoid regional and international crises and face the challenges of continuing wetdaaitha.
He said Lebanon needed to keep that trust, at a time when a series of political and security risks, especially to apply sanctions against Syria and Iran, and the financing of terrorism.
Riad Salameh: Washington is aware that the money funded daash pass not in Lebanon
The Lebanese Government on that trust, to provide 3 draft laws on money laundering and financial crimes, amending the law of transfer of funds across borders, controls the disclosure of sources and means of transport.
The Government stressed that the new legislation emphasizes the need to engage actively in the efforts of the international community to combat money laundering and terrorist financing.
The Government faces difficulty in passing laws which evade complete quorum of MPs loyal to Hezbollah in an attempt to freeze the search, despite pressure from American and French to approve such laws.
The group said Pro-Hezbollah code transfer funds pose a threat to the confidentiality of own funds and transfer them to the inside and outside, in an attempt to disrupt the discussion and adoption of laws.
Hezbollah is trying to evade the laws because it depends on each financial transaction on cash, and does not use any financial instruments, such as bank transfers or any of the mechanisms adopted in the banking system.
And observers say he will continue to evade all the criteria and that it is able to ' influence on the input or output of the cash now ' without censorship.
They added that the party did not want a ready-made code that can be used in the future to block the movement of funds or control.
Lbenanbon Congress noted that the ' reservation ' that Hezbollah had about the draft laws have eased a lot, because money no longer stood him and his supporters, but now fear comes from daash and victory alike.
They added that Lebanon awaits international reactions after its failure to adopt the law of transfer of funds across borders, is an international law works in most countries in the world, put an end to procrastination deputies loyal to Hezbollah and hinder for bills that increase the control of banking activities.
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28-04-2015 12:09 PM
Lebanon is expected to put banks under the microscope while hosting a forum next week for "cutting off the financing of terrorism under us warnings to Lebanese banks in financing Hezbollah and other terrorist organizations in neighboring countries that are active in Lebanese banks.
The Lebanese capital on Monday will host the next Forum "cutting off the financing of terrorism", organized by the Arabic Bank Union in cooperation with the World Union of Arab bankers.
The Forum will discuss the principles put forward by the us Treasury under the heading of "know your customer, client and customer" in accordance with the degree of risk, and how to learn banking operations that can be exploited and how to monitor suspicious or unusual operations.
And increased u.s. pressure recently to tighten sanctions against Hezbollah to exclude it from the international financial system and trapping ways of funding, and monitor the activity of Lebanese banks operating in troubled countries such as Syria and Iraq.
And a large crowd attended the Forum of representatives of Lebanese banks and Arabic under high frequency turbulence in the region and their implications for deep banking controls to track financial outlets that finance terrorist operations.
And the expectation that the Lebanese banks in particular due to the spread of its branches in neighbouring countries such as Syria and Jordan, Iraq and Turkey, and bank transfers and transfer funds, which underwent operations for international control and particularly American.
Lebanese authorities confirms compliance with procedures and international standards, as they seek to cope with the global trend of tightening global financial centres, mathema is currently happening with Switzerland, Luxembourg and Austria, for money laundering and terrorist financing.
Us Treasury Deputy Daniel ghlainrz warns Lebanese banks with branches in Iraq
The us House of representatives has given the Treasury Department greater authority to prosecute all banks in the world, including central banks, to apply sanctions against Hezbollah and funded by financial institutions.
The us Administration has welcomed the commitment of the Lebanese banks by world standards, but asked the Bank of Lebanon banks Association and take more care to avoid any future risks and for any penalties or limit of any kind on the Lebanese banking sector.
Deputy us Treasury Daniel ghlainrz had visited Lebanon recently and held talks with officials of the Central Bank and the Association of Lebanese banks.
He warned Lebanese banks with branches in Iraq risk deposit funds by organizations classified as terrorist and the transmission of funds to daash, Hezbollah and other terrorist organizations.
Ghlainrz stressed that the sanctions imposed by applicable laws, and that it cannot be removed or alleviated only by new laws issued by u.s. authorities and international institutions concerned with the international legislation.
The President of the Association of banks in Lebanon, Francois bassil said the safety performance of Lebanese banks and its attention to the movement of funds from either Iraq or any country in the world, and that Lebanon "is committed to international standards and steps to be careful."
He denied the Central Bank Governor Riad Salame there any money organizing daash in the Lebanese banking sector, and the Bank's regulations prevent the entry of illegal funds and punish anyone violating them.
He stressed that the banks are not prepared to sacrifice its reputation and that Washington recognizes that the funds which finance transition not daash Lebanon.
He said the safety of the world's confidence in Lebanon's economy and its banking sector, given the positive factors that helped him avoid regional and international crises and face the challenges of continuing wetdaaitha.
He said Lebanon needed to keep that trust, at a time when a series of political and security risks, especially to apply sanctions against Syria and Iran, and the financing of terrorism.
Riad Salameh: Washington is aware that the money funded daash pass not in Lebanon
The Lebanese Government on that trust, to provide 3 draft laws on money laundering and financial crimes, amending the law of transfer of funds across borders, controls the disclosure of sources and means of transport.
The Government stressed that the new legislation emphasizes the need to engage actively in the efforts of the international community to combat money laundering and terrorist financing.
The Government faces difficulty in passing laws which evade complete quorum of MPs loyal to Hezbollah in an attempt to freeze the search, despite pressure from American and French to approve such laws.
The group said Pro-Hezbollah code transfer funds pose a threat to the confidentiality of own funds and transfer them to the inside and outside, in an attempt to disrupt the discussion and adoption of laws.
Hezbollah is trying to evade the laws because it depends on each financial transaction on cash, and does not use any financial instruments, such as bank transfers or any of the mechanisms adopted in the banking system.
And observers say he will continue to evade all the criteria and that it is able to ' influence on the input or output of the cash now ' without censorship.
They added that the party did not want a ready-made code that can be used in the future to block the movement of funds or control.
Lbenanbon Congress noted that the ' reservation ' that Hezbollah had about the draft laws have eased a lot, because money no longer stood him and his supporters, but now fear comes from daash and victory alike.
They added that Lebanon awaits international reactions after its failure to adopt the law of transfer of funds across borders, is an international law works in most countries in the world, put an end to procrastination deputies loyal to Hezbollah and hinder for bills that increase the control of banking activities.
[You must be registered and logged in to see this link.]
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