During a visit to Washington aimed at securing a reprieve for Lebanon, which faces the risk of being placed back on the Financial Action Task Force (FATF) watchlist this fall, Interim Governor of the Central Bank of Lebanon (BDL) Wassim Mansouri described his meetings with U.S. officials as "positive."
Being placed on the grey list would have significant repercussions for Lebanon © Mena Today
During a visit to Washington aimed at securing a reprieve for Lebanon, which faces the risk of being placed back on the Financial Action Task Force (FATF) watchlist this fall, Interim Governor of the Central Bank of Lebanon (BDL) Wassim Mansouri described his meetings with U.S. officials as "positive."
In a statement released by local media, Mansouri highlighted the constructive nature of his discussions with officials from the U.S. Departments of State and Treasury, as well as the International Monetary Fund (IMF).
These talks are focused on preventing Lebanon's inclusion on the FATF’s grey list. "But the outcomes depend on what will be achieved," he added.
Mansouri further commented, "Placing Lebanon on the grey list at this stage does not align with the logic of encouraging the country to take measures to move away from a cash economy, especially since the FATF is well aware of the efforts made by the Central Bank and the banking sector to curb this trend and combat money laundering and terrorist financing."
The FATF, an international financial crime watchdog, has been considering putting Lebanon back on the grey list for over a year. This follows a 2023 evaluation that deemed the country's efforts in combating money laundering and terrorist financing insufficient.
In June 2023, Lebanon was granted a one-year extension to make necessary improvements. However, according to an interim report from the FATF's regional branch for the MENA zone dated March, which we have reviewed, the identified gaps have not been adequately addressed, making a grey listing likely at the next FATF plenary meeting in October.
Being placed on the grey list would have significant repercussions for Lebanon, affecting its financial stability and international reputation.
The interim governor’s meetings in Washington represent a critical effort to avert this outcome and to demonstrate Lebanon’s commitment to financial reforms and compliance with international standards.
Dodging the broken glass carpeting her home in southern Lebanon, Mariam al-Yaghi exited onto her upper balcony and pointed. A few hundred metres away was a sight the 67-year-old had grown accustomed to: military vehicles moving through the adjacent Lebanese village, still occupied by Israeli troops.
Hezbollah has received $200 million from Iran to help Lebanese displaced by this year’s war with Israel, two people with direct knowledge of the transfer said, the first significant aid from the group to supporters who bore the brunt of the conflict.
Saudi Arabia has launched an air accident probe following last week's cockpit stabbing on a flydubai jet, as experts examine any fallout for aviation safety alongside a separate UAE-led criminal investigation, three people close to the matter said.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.