File - People walk in front of the Bank Association building in Beirut, Monday, June 27, 2011. (The Daily Star/Mahmoud Kheir)
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There is no threat to Lebanon's banking secrecy, despite the mounting pressure from the international community to disclose the accounts of Lebanese with dual passports, bankers said.Lebanon is one of the countries in the world with banking secrecy laws, which were created to further strengthen the financial systems in the country.However, Lebanon has agreed to lift banking secrecy if a depositor is suspected of money laundering or terrorist funding, or if the account holder is a U.S. citizen.However, some observers believe that Lebanon's banking sector could easily survive and prosper even if one day banking secrecy were lifted, noting that investors have high confidence in the efficiency of the Lebanese banks.
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