ABL Board of Directors held a business lunch meeting with HE Mrs. Mora Connelli, US Ambassador in Lebanon where as banking relations between Lebanon and the USA were discussed and the urge of refuting all kind of rumors circulated by some local media and politicians regarding the Lebanese banking sector following the merger of the Lebanese Canadian Bank with another bank.

The Chairman of the Board, Dr. Joseph Torbey, delivered a speech where he stressed on the leading role and strength of the Lebanese banking sector. He said: “the constant dialogue between the sector and the monetary authorities has produced a successful banking sector ensuring Lebanon economic and social stability in the current Arab region turmoil".

Dr. Torbey added: “Banks in Lebanon follow the best international practices in risk management and fighting money laundering. Lebanon has a small economic activity level and is open to global markets, banks in Lebanon uses best norms and systems in the banking industry and very high qualified human resources encountering various critical clients. The Banks are facing many challenges and the protection of our banking sector is our priority".

He also stated that the Association and the Lebanese banks are putting utmost efforts to evolve and train their management skills where as young Lebanese are acceding to international higher places in the banking activity, mostly due to their professionalism and moral qualities. Also, Lebanese banks are implemented in more than 30 Arab and foreign countries with a correspondent banks' network exceeding 110 cities worldwide. Dr. Torbey added that the Lebanese banking sector, with the collaboration of the Central Bank of Lebanon, is determined to keep the sector clean of money laundering.

Finally, ABL president insisted on a good collaboration in this matter and expressed his wishes to the American Ambassador to issue an official statement putting end to these rumors.