In the past few days, some Arab media outlets quoted certain foreign organizations with suspicious and dishonest objectives, stating that the Lebanese banking sector in general, and a number of Lebanese banks in particular, constitute a channel for money laundering by Hezbollah. The Association of Banks in Lebanon would like to assure that this news is totally fabricated and lacks any basis of validity and credibility. Lebanese banks adhere to all the rules of compliance, transparency and anti-money laundering in force in Lebanon and abroad, with the recognition and declaration of international and regional authorities specialized in this field, and they are also bound by international, US and European sanctions obligations related to such illegal activities. On this occasion, the ABL reiterates the continuity of our sector's affiliation to the global banking system and the application of its business rules.

The Association also believes that the persistence in adopting such misleading and distorting allegations that damage the reputation of the Lebanese banking sector serves the interests of forces hostile to Lebanon and its people, for well-known political purposes at a phase witnessing hidden and overt struggles over influence and wealth in this region of the world. The Association, while highly saluting and appreciating  the efforts made by the international community, especially friendly and brotherly countries, to help Lebanon recover from its current stalemate and ordeal, with its triangular financial, economic and social dimensions, it can only renew its expression of appreciation to the Lebanese and Arab media, as well as to the social media. ABL urges, however, all to further verify the credibility of the news circulating about Lebanon, in order not to further harm our afflicted country, and to commit to accuracy and objectivity in covering the news, positions and activities of the Lebanese banking sector, which today received with great regret the news about Dr. Mustafa Adeeb’s stepping down from the task of forming a new government, therefore making the Lebanese situation more difficult and complex.

Communication & PR Department