Secretary General of Arab Banks Association Wissam Fattouh. (The Daily Star/HO)
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Lebanon has no choice but to fully abide by the U.S. financial measures against Hezbollah but the regulators must make sure than this law will not target an important segment of the Lebanese society, the director-general of the Union of Arab Banks said.In December 2015, U.S. President Barak Obama signed a House of Representatives bill to tighten financial sanctions against Hezbollah.The Hezbollah International Financing Prevention Act of 2014 stated that it shall be U.S. policy to: prevent Hezbollah's global logistics and financial network from operating in order to curtail funding of its domestic and international activities; and utilize diplomatic, legislative and executive avenues to combat Hezbollah's criminal activities to block that organization's ability to fund its global terrorist activities.Other bankers said that some of items in the U.S. bill may need to be clarified with the regulators in Lebanon.
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