In a press release, the Association of Banks in Lebanon expressed its satisfaction for the improvements made by Lebanon with regard to protecting its reputation on the financial level after the Lebanese Parliament approval of four financial laws in compliance with the standards set by the international financial system.

The Association also praises the efforts made by Finance Minister and Parliament, which sent a delegation to the United States in a bid to hold discussions with American authorities about measures that would protect Lebanon and its financial system. ABL lauds the Lebanese monetary and financial authorities who succeeded in creating a safety net for the Lebanese banking sector which is considered the pain pillar of the Lebanese economy, thus adapting to the particular requirements of GAFI namely in the fight against money laundering and financing terrorism, that lead GAFI to declare Lebanon in line with international requirements.

The Association of Banks in Lebanon confirms the banks’ commitment to Lebanese financial laws and regulations set by the international financial system, including sanctions, that ensures the protection of Lebanon’s interests and its people wealth, in addition to securing the continuous work of local financial institutions with the global financial system. The Lebanese banking sector is part of that global one since many Lebanese banks are implemented in 32 countries abroad and must be in line with the global financial system.