Lebanon's Central Bank Governor Riad Salameh speaks during an interview with Reuters at his office in Central Bank in Beirut, Lebanon October 24, 2017. (REUTERS/Jamal Saidi)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Central Bank Gov. Riad Salameh Wednesday reaffirmed Lebanon's commitment to banking secrecy, noting that this can only be removed through a legal mechanism in cases of illegal financial activity.Lebanon is still one of the few countries in the world with a strict banking secrecy system – one of the reasons Lebanon has been able to draw billions of dollars in deposits from inside the country and abroad.The SIC, which was established by the government to combat money laundering and terrorism finance, has lifted banking secrecy on many accounts for illegal financial activities. The governor also highlighted the role Lebanon and the SIC have played in cracking down on cybercrime, which has grown rapidly over the past few years.Salameh reiterated that BDL plans to issue its own digital currencies, which will be used and traded in Lebanon.
FOLLOW THIS ARTICLE