U.S. observes compliance of banks

The U.S. continues to closely monitor the local financial sector to ensure compliance with international sanctions and anti-money laundering measures, the U.S. embassy said in a statement following a meeting between Ambassador Maura Connelly and the Association of Banks in Lebanon (ABL).

Connelly commended ABL board members for the steps they have taken to protect the local financial sector from illicit activity. She urged continued vigilance from regulatory authorities and from banks “to promote a transparent and well-regulated financial sector.”