U.S. TREASURY DEPARTMENT DELEGATION VISITS LEBANON’S BANKS ASSOCIATION

BEIRUT, Lebanon – A delegation from the US Treasury Department, headed by Assistant US Treasury Secretary, Daniel Glazer, visited on Tuesday, Lebanon Banks Association’s headquarters in Saifi.

The delegation was greeted by Association head, Francois Bassil, and Board Administration members.

As per a statement by the Association, it said that, the meeting tackled the current financial and banking situation in Lebanon and the region, with emphasis on the measures adopted by Lebanese banks, in a precision and regularity manner, in anticipation of the various risks and abidance by the proper banking norms, in compliance with international resolutions, particularly the mechanisms of the application of US sanctions and the law of US tax-compliance.

Bassil, for his part, stressed that the fight against money laundering and terrorist financing is an ongoing work by the Lebanese banking sector, clearly evident through the ongoing developments in the supervisory and regulatory framework.

Bassil said that, they do not deal with those placed on blacklists, and do not allow them any access to the international banking sector, underlining compliance with international laws and sanctions.

Source: Name News Network

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