Lebanese bankers are keen for parliament to pass the bills this year to improve the county’s international image.(The Daily Star/HO)
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Lebanese banks are lobbying the Parliament to quickly endorse three bills designed to tighten anti-money laundering and terrorist funding procedures, the president of the Association of Banks in Lebanon said Tuesday.This is evidenced by the ongoing developments on the regulatory and supervisory framework," Bassil explained.He added that banks are committed to all the anti-money laundering and anti-terror-funding procedures for the sake of the country, banks and depositors. This is complemented and supported by similar in-house training and other training in country and abroad," Bassil said.He added that the number of people employed at the compliance department has increased from 34 in 2005 to reach 106 officers in 2014, in addition to 17 compliance directors and 24 legal compliance-responsible officials. Bassil reiterated that Lebanese banks will not deal with individuals or groups who are suspected of money laundering or terrorist funding activities.
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