A Lebanese flag flutters from a building in the Mar Mikhael district of Beirut on July 21, 2024.
In October 2024, the Financial Action Task Force (FATF), the global money laundering and terrorist financing watchdog, could place Lebanon back on its gray list. It would be another black dot in the country's record and its banks since the start of the crisis in 2019.According to a Banque du Liban (BDL) source, the officials should be notified about FATF’s final decision in September. The possibility of granting the country a few more months cannot be ruled out.“Whether the decision is taken in October, December or a little later, we have to accept the inevitable and get on with managing the day after,” said Walid Kadri, an expert in banking affairs and Capital Markets Authority’s (CMA) board member. The FATF holds three plenary meetings a year. Read also Decrease in gasoline, diesel, and fuel oil prices while gas cylinder price rises ...
In October 2024, the Financial Action Task Force (FATF), the global money laundering and terrorist financing watchdog, could place Lebanon back on its gray list. It would be another black dot in the country's record and its banks since the start of the crisis in 2019.According to a Banque du Liban (BDL) source, the officials should be notified about FATF’s final decision in September. The possibility of granting the country a few more months cannot be ruled out.“Whether the decision is taken in October, December or a little later, we have to accept the inevitable and get on with managing the day after,” said Walid Kadri, an expert in banking affairs and Capital Markets Authority’s (CMA) board member. The FATF holds three plenary meetings a year. Read also Decrease in gasoline, diesel, and fuel oil prices while gas cylinder...