LBCI

Cooperation or consequences: Correspondent banks and Lebanon's gray list placement

Lebanon Economy

24-05-2023 | 10:25

Share

Share

Cooperation or consequences: Correspondent banks and Lebanon's gray list placement

2^min

Neither the Central Bank of Lebanon nor the commercial banks have received any negative updates from correspondent banks regarding the international arrest warrant against Governor Riad Salameh or Lebanon's placement on the gray list by the Financial Action Task Force.

However, this does not mean these correspondent banks will remain idle in light of the negative financial and monetary assessments and measures affecting Lebanon.

Before issuing the international arrest warrant against Salameh and the gray list issue, one correspondent bank suspended its dealings with three Lebanese banks because these banks had not moved their accounts for an extended period.

Banking sources stated that the information they received abroad, particularly from the United States, does not indicate any US recommendation for JP Morgan and Citibank to cease dealings with the central and Lebanese banks.

This as the continued operation of these banks, even at the minimum level, allows for external monitoring of any money laundering operations, and ceasing to work with Lebanese banks would make money laundering operations easier.

In this context, banking sources also expected that when Lebanon will be placed on the gray list, it would be categorized under the cooperative category, providing an opportunity within a specific timeframe to address its financial and monetary situation.

The danger lies in the failure to address these issues, which would lead Lebanon to be listed as a non-cooperative, resulting in correspondent banks suspending their dealings.

Lebanon News

Lebanon Economy

News Bulletin Reports

Lebanon

Banks

BDL

Next

Lebanon updates fuel prices

Recommended For You

Waste crisis or new tax? Lebanon’s environmental fee raises questions

News Bulletin Reports

2026-08-14

Waste crisis or new tax? Lebanon’s environmental fee raises questions

Fuel prices slightly decrease across Lebanon

Lebanon Economy

2026-08-11

Fuel prices slightly decrease across Lebanon

Fuel prices: Gasoline drops by LBP 7,000, diesel rises by LBP 10,000

Lebanon Economy

2026-08-07

Fuel prices: Gasoline drops by LBP 7,000, diesel rises by LBP 10,000

Fuel prices in Lebanon increase

Lebanon Economy

2026-08-03

Fuel prices in Lebanon increase

Subscribe to our VOD

SUBSCRIBE

Our visitors readings

Iran says charging fees for 'navigational services' through Hormuz

Middle East News

2026-05-25

Iran says charging fees for 'navigational services' through Hormuz

Iran issues evacuation warnings for Gulf energy facilities

Middle East News

2026-03-18

Iran issues evacuation warnings for Gulf energy facilities

Lebanon’s PM backs Gulf states and Jordan following sovereignty violations

2026-02-28

Lebanon’s PM backs Gulf states and Jordan following sovereignty violations

Dubai airports to resume 'limited' flights Monday evening: Statement

Middle East News

2026-03-02

Dubai airports to resume 'limited' flights Monday evening: Statement

Videos

Lebanon-Israel talks: delegations arrive at US Embassy in Rome — Video

2026-08-06

Lebanon-Israel talks: delegations arrive at US Embassy in Rome — Video

Residents begin returning to Zawtar el-Gharbiyeh, southern Lebanon: Video

2026-07-24

Residents begin returning to Zawtar el-Gharbiyeh, southern Lebanon: Video

Slotkin to LBCI: Lebanese army needs resources to confront Hezbollah, $36 million request submitted for special forces

2026-07-20

Slotkin to LBCI: Lebanese army needs resources to confront Hezbollah, $36 million request submitted for special forces

Lebanon’s ambassador to Washington: trilateral framework agreement first step toward restoring sovereignty

2026-06-26

Lebanon’s ambassador to Washington: trilateral framework agreement first step toward restoring sovereignty

Rubio on Lebanon-Israel framework agreement: 'beginning of the beginning,' more work needed

2026-06-26

Rubio on Lebanon-Israel framework agreement: 'beginning of the beginning,' more work needed

Lebanon, Israel sign trilateral framework agreement after Washington talks attended by Rubio: Video

2026-06-26

Lebanon, Israel sign trilateral framework agreement after Washington talks attended by Rubio: Video

Israeli strikes renew on Choukine, Maifadoun, and Nabatieh al-Fawqa in southern Lebanon: Video

2026-06-20

Israeli strikes renew on Choukine, Maifadoun, and Nabatieh al-Fawqa in southern Lebanon: Video

Massive Israeli strikes hit South Lebanon under ceasefire conditions

2026-06-19

Massive Israeli strikes hit South Lebanon under ceasefire conditions

Trump criticizes Israel’s Lebanon campaign, says war has gone on ‘too long’ and floats Syria role in conflict

2026-06-16

Trump criticizes Israel’s Lebanon campaign, says war has gone on ‘too long’ and floats Syria role in conflict

Most read

24 hours

7 days

Month

Health Ministry: Seven killed, including three children and two women, in Israeli strike on Ansar

1

Health Ministry: Seven killed, including three children and two women, in Israeli strike on Ansar

Hezbollah blames Netanyahu for escalation after strikes kill 11 in south Lebanon

2

Hezbollah blames Netanyahu for escalation after strikes kill 11 in south Lebanon

Israel says Lebanon strikes a response to Hezbollah ceasefire violation

3

Israel says Lebanon strikes a response to Hezbollah ceasefire violation

Six killed, two injured in airstrike in southern Lebanon as displacement reported in Nabatieh

4

Six killed, two injured in airstrike in southern Lebanon as displacement reported in Nabatieh

Israel wants 'more serious' talks with Lebanon: AFP

5

Israel wants 'more serious' talks with Lebanon: AFP

Health Ministry: 11 killed, 19 wounded in Israeli strikes on Deir el-Zahrani and Ansar

6

Health Ministry: 11 killed, 19 wounded in Israeli strikes on Deir el-Zahrani and Ansar

Speaker Berri: Israel disregards agreements as attacks in southern Lebanon continue

7

Speaker Berri: Israel disregards agreements as attacks in southern Lebanon continue

Major wildfire breaks out in Aitou forest in northern Lebanon: Video

8

Major wildfire breaks out in Aitou forest in northern Lebanon: Video

Download now the LBCI mobile app

To see the latest news, the latest daily programs in Lebanon and the world

Google Play

App Store

Download now the LBCI mobile app

We use
cookies

We use cookies to make
your experience on this
website better.

Accept

Learn More