Lebanon Businessnews News

Central Bank closes
100 Hezbollah-related accounts
Banks required to go through BDL list
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Riad Salameh, the Governor Central Bank, said 100 bank accounts with ties to Hezbollah have been closed.

The accounts that have been closed belong to individuals and institutions connected to Hezbollah.

Salameh told CNBC: “The accounts have been frozen.” He said “Applying the US law is conclusive, and aims to preserve Lebanon’s financial and banking credibility around the world.”

The Governor said that illegitimate funds in the banking system are prohibited. “We don’t want a few Lebanese to be the reason behind poisoning the country’s image and defaming it in global financial markets,” he said.

Banks are required to review a list that has been put together by the Central Bank before they randomly shut down personal and corporate bank accounts.

Last month, Salameh issued a letter affirming the commitment of banks in applying US sanctions on Hezbollah foundations and figures, based on the money laundering and terrorism financing law ratified last year by the Parliament.
Reported by Yassmine Alieh
Date Posted: Jun 09, 2016
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