In the frame of the periodic visits organized by the Association of Banks in Lebanon to the capitals of finance in Europe and the United States, and in order to strengthen Lebanese banks’ relations with their correspondents, as well as to implement good communication with foreign financial and monetary authorities, a delegation of ABL Board of Directors leaves today for a visit to the United States that will take place from January 25 to 29, 2016.

Dr. Joseph Torbey heads the delegation that includes the Vice President Saad Azhari, as well as Members of the Board: Dr. Tanal Sabbah and Messrs. Walid Raphael, Nadim Kassar, Mohammed Ali Beyhum, Chahdan Jebeily and the Secretary General, Dr. Makram Sader.

The delegation will hold in New York business meetings with higher responsible of the Federal Reserve and Senior officers of the US correspondent banks, namely: Bank of New York, Citibank, JPMorgan, Standard Chartered Bank and HSBC.

In the same context, the delegation will visit Washington and held business meetings with officials that are concerned with banking and finance from the White House, the US Treasury and the States Department, as well as prominent members of banking commissions and financial services in the US Congress, some of whom are of Lebanese origin.

On this occasion, Dr. Joseph Torbey will host a dinner in honor of the Lebanese Ambassador to Washington Antoine Chedid, which will also be attended by ABL delegation, some members of the US Congress and senior officials of the Treasury and States departments.

The delegation will present the 4 key financial legislations that were approved in November 2015 by the Lebanese Parliament. These laws reflect the commitment of the Lebanese State and the Lebanese banks to the global financial and banking standards, especially compliant with US law, giving that the transactions of the Lebanese banking sector and external trade of Lebanon are practiced in US dollars, through the correspondent banks in New York.

This periodical visit, as the previous ones, strengthens the position of Lebanon in the global banking system at the levels of the banking sector and Central Bank despite all the regional and international challenges surrounding Lebanon.