Lebanon strengthens oversight of financial system after US visit
Central bank tightens AML/CFT rules as Washington tells it to contain Hezbollah funding
The Central Bank of Lebanon (BdL) has told domestic financial institutions to tighten their oversight of transactions, as the country seeks to aid US efforts to cut off funding to militant groups.
In a statement on November 14, the BdL said it had taken “precautionary measures” to “strengthen the compliance environment” of the financial sector.
Under the new rules, non-banks – including “lending counters” and “money exchange institutions” – must collect information on customers for transactions
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