News
Latest News
news bulletin
Breaking Headlines
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
26
o
Mount Lebanon
26
o
Metn
26
o
Keserwan
26
o
North
26
o
South
26
o
Bekaa
18
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Ali Rida - Ariza
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
26
o
Mount Lebanon
26
o
Metn
26
o
Keserwan
26
o
North
26
o
South
26
o
Bekaa
18
o
News
Programs
The News
Breaking Headlines
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Lebanon granted one-year grace period to implement financial reforms and avoid gray listing
Breaking Headlines
2023-05-25 | 03:34
High views
Share
Share
3
min
Lebanon granted one-year grace period to implement financial reforms and avoid gray listing
LBCI sources have revealed that Lebanon has been granted a crucial grace period of one year to implement essential financial, monetary, and banking reforms.
This move comes as an effort to prevent Lebanon from being placed on the gray list as a non-cooperative state by The Financial Action Task Force.
The decision to grant Lebanon this grace period reflects the recognition of the challenges the country is currently facing in its efforts to address its financial and economic crisis.
The gray list, formally known as "Jurisdictions under Increased Monitoring and High-Risk Jurisdictions subject to a Call for Action," is a list maintained by the Financial Action Task Force (FATF). It comprises countries that have deficiencies in their anti-money laundering and combating the financing of terrorism (AML/CFT) frameworks. Placement on this list signifies that a country's AML/CFT measures are not in line with international standards and can have significant repercussions for its financial system.
Lebanon's inclusion in the gray list would have had far-reaching consequences for its economy. It could have further damaged the country's already weakened banking system, increased the cost of international transactions, limited access to global financial networks, and deterred foreign investments. Therefore, the grace period granted to Lebanon is a vital lifeline that allows the country to implement crucial reforms and avoid the potential negative consequences associated with being on the gray list.
“A jurisdiction that enters the ICRG review process as a result of its mutual evaluation results has a one-year Observation Period to work with the FATF or its FATF-style regional body (FSRB) to address deficiencies before possible public identification and formal review by the FATF,” according to the organization.
According to exclusive information from LBCI, the Financial Action Task Force (FATF) conducted an assessment of Lebanon's financial, monetary, and regulatory situation. The assessment found positive developments in seven areas, while two issues require further attention. The positive and negative aspects have not been clarified pending an official statement from the organization.
Breaking Headlines
Lebanon News
Lebanon Economy
Lebanon
Gray List
Economic
Crisis
Financial
Monetary
Banking
System
Reform
Next
TMC: One injured in one traffic accident during the past 24 hours
Deputy Skaff works to unite opposition for common presidential candidate
Previous
Related Articles
d-none hideMe
0
News Bulletin Reports
2023-09-28
Fresh approach: Wassim Mansouri's proposed reforms seek to revive Lebanon's struggling banking sector
News Bulletin Reports
2023-09-28
Fresh approach: Wassim Mansouri's proposed reforms seek to revive Lebanon's struggling banking sector
0
News Bulletin Reports
2023-09-24
Lebanon's financial crisis: Exploring revenue potential beyond taxation
News Bulletin Reports
2023-09-24
Lebanon's financial crisis: Exploring revenue potential beyond taxation
0
Lebanon News
2023-09-19
Minister of Economy Emphasizes Urgent Need for Reforms in Lebanon's Ailing Public Sector and Banking Industry
Lebanon News
2023-09-19
Minister of Economy Emphasizes Urgent Need for Reforms in Lebanon's Ailing Public Sector and Banking Industry
0
Lebanon Economy
2023-09-15
Finance Minister Khalil: IMF's statement is an accurate description of the financial, monetary, and economic situation
Lebanon Economy
2023-09-15
Finance Minister Khalil: IMF's statement is an accurate description of the financial, monetary, and economic situation
Recommended For You
d-none hideMe
0
Press Highlights
01:39
Qatari and French initiatives in Lebanon: Seeking presidential resolution
Press Highlights
01:39
Qatari and French initiatives in Lebanon: Seeking presidential resolution
0
Press Highlights
00:53
Hezbollah's delayed alignment: The Quintet Committee's challenge and impending responsibility
Press Highlights
00:53
Hezbollah's delayed alignment: The Quintet Committee's challenge and impending responsibility
0
Breaking Headlines
00:16
TMC: 2 dead and 10 injured in 7 traffic accidents during the past 24 hours
Breaking Headlines
00:16
TMC: 2 dead and 10 injured in 7 traffic accidents during the past 24 hours
0
News Bulletin Reports
2023-10-01
Lebanon's star-studded summer: Festivals' success story
News Bulletin Reports
2023-10-01
Lebanon's star-studded summer: Festivals' success story
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
World News
08:07
Armenia accuses Azerbaijan of opening fire in border area
World News
08:07
Armenia accuses Azerbaijan of opening fire in border area
0
News Bulletin Reports
11:31
Concerns and questions: Lebanon's handling of $1.139 billion in IMF Special Drawing Rights (SDR)
News Bulletin Reports
11:31
Concerns and questions: Lebanon's handling of $1.139 billion in IMF Special Drawing Rights (SDR)
0
World News
10:47
Trump mocks his civil trial on asset inflation charges in New York
World News
10:47
Trump mocks his civil trial on asset inflation charges in New York
0
Sports News
2023-07-17
Inter Miami formalizes its contract with Busquets
Sports News
2023-07-17
Inter Miami formalizes its contract with Busquets
Videos
d-none hideMe
0
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
0
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
0
Lebanon News
2023-05-28
New Lebanese Embassy Building in Canada: A Triumph of Determination and Belonging
Lebanon News
2023-05-28
New Lebanese Embassy Building in Canada: A Triumph of Determination and Belonging
0
News Bulletin Reports
2023-02-02
US must think long before granting Lebanon Caesar Act waiver: Congressman
News Bulletin Reports
2023-02-02
US must think long before granting Lebanon Caesar Act waiver: Congressman
0
Lebanon News
2023-01-25
Beirut blast investigations: The latest
Lebanon News
2023-01-25
Beirut blast investigations: The latest
0
Lebanon News
2023-01-23
Here is what preliminary investigations reveal after grenade attack on LBCI
Lebanon News
2023-01-23
Here is what preliminary investigations reveal after grenade attack on LBCI
0
Lebanon News
2023-01-19
Khalaf, Saliba start open-ended stay inside parliament until president is elected
Lebanon News
2023-01-19
Khalaf, Saliba start open-ended stay inside parliament until president is elected
0
News Bulletin Reports
2022-12-23
Lebanon lacks leaders with geopolitical vision: Naufal Daou
News Bulletin Reports
2022-12-23
Lebanon lacks leaders with geopolitical vision: Naufal Daou
0
News Bulletin Reports
2022-12-07
FPM likely to ditch white ballots following disagreement with Hezbollah
News Bulletin Reports
2022-12-07
FPM likely to ditch white ballots following disagreement with Hezbollah
Most read
d-none hideMe
24 hours
7 days
Month
1
Variety and Tech
03:55
Meet Madame Salha: Lebanon's 'Christian Dior of the Middle East' with prominent legacy in Lebanese Haute Couture
Variety and Tech
03:55
Meet Madame Salha: Lebanon's 'Christian Dior of the Middle East' with prominent legacy in Lebanese Haute Couture
2
Lebanon News
05:19
General Abbas Ibrahim warns of external influences that complicate path to change, cites potential conspiracy over Lebanon's security
Lebanon News
05:19
General Abbas Ibrahim warns of external influences that complicate path to change, cites potential conspiracy over Lebanon's security
3
News Bulletin Reports
11:16
Creativity takes a wrong turn: Streets overflow with garbage as winter approaches
News Bulletin Reports
11:16
Creativity takes a wrong turn: Streets overflow with garbage as winter approaches
4
Lebanon News
09:08
Minister Hamie meets Russian Ambassador: The importance of developing Lebanon's ports in light of the global transport corridor redesign
Lebanon News
09:08
Minister Hamie meets Russian Ambassador: The importance of developing Lebanon's ports in light of the global transport corridor redesign
5
Press Highlights
01:39
Qatari and French initiatives in Lebanon: Seeking presidential resolution
Press Highlights
01:39
Qatari and French initiatives in Lebanon: Seeking presidential resolution
6
Press Highlights
00:53
Hezbollah's delayed alignment: The Quintet Committee's challenge and impending responsibility
Press Highlights
00:53
Hezbollah's delayed alignment: The Quintet Committee's challenge and impending responsibility
7
News Bulletin Reports
10:29
Qatar's diplomatic prowess: From Afghan peace talks to Lebanese presidential gridlock
News Bulletin Reports
10:29
Qatar's diplomatic prowess: From Afghan peace talks to Lebanese presidential gridlock
8
News Bulletin Reports
11:31
Concerns and questions: Lebanon's handling of $1.139 billion in IMF Special Drawing Rights (SDR)
News Bulletin Reports
11:31
Concerns and questions: Lebanon's handling of $1.139 billion in IMF Special Drawing Rights (SDR)
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More