The U.S. Treasury Department warned the banking sector against “attempts by the Syrian regime to evade U.S. and EU sanctions through Lebanon’s financial sector.”



The Assistant Secretary for Terrorist Financing, Daniel Glaser, highlighted the need for the Lebanese authorities to take the necessary steps to ensure a transparent and well-regulated financial sector.

During a visit to Beirut on November 10, Glaser emphasized the need “to ensure that the current instability in Syria does not undermine the Lebanese financial sector.”



The Governor of the Central Bank, Riad Salameh, has rebuffed reports about Syrian money transferred into local banks. He said that the percentage of the growth of local bank deposits is less than last year’s figures. Bank deposits stood at $112 billion at end-July 201, up from around $102 billion for July 2010, according to Central Bank figures.



Salameh also denied reports that local banks have frozen accounts of Syrian individuals. He said that the Central Bank’s Special Investigation Commission (SIC) didn’t order the banks to freeze any Syrian accounts. This measure, he said, generally requires binding resolutions from the United Nations Security Council.