Lebanese Banks Association building in Beirut. (The Daily Star/Hasan Shaaban)
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Central Bank governor Riad Salameh promised that it is difficult for terrorist groups like ISIS to hold bank accounts in Lebanon but admitted challenges in verifying if individuals are donating to them.Lebanon has repeatedly stressed that ISIS has no account in any bank or financial institution in Lebanon.To clamp down on money laundering and terrorist funding, Lebanon over 10 years ago created the Special Investigation Commission, which receives and evaluates all complaints from local and international parties about suspicious accounts. Salameh also echoed calls by the ABL for Parliament to ratify several draft laws related to anti-money laundering and terrorist financing that the Cabinet approved three years ago.Globally, most central banks are no longer relying on traditional interest-rate policies, Salameh said.
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