US official calls for protecting the Lebanese financial sector from illicit finance

The US Assistant Secretary for Terrorist Financing David Glaser said on Friday that the Lebanese financial system is a critical asset to the Lebanese people and serves as a bedrock of the national and regional economy.   

“Lebanon’s financial system has long been a source of professionalism and stability in a region often beset by crisis and upheaval,” Glaser said.                   

Glaser added that that professionalism and stability may be maintained only through the efforts of both the public and private sectors to ensure a hostile environment for terrorists, and criminals.               

Following a meeting with caretaker Prime Minister Najib Mikati in the presence of US Ambassador to Lebanon David Hale, US official Glaser noted that Lebanon’s ability to retain its position as an important regional and international financial center requires constant vigilance.                  

In this regard, Glaser called for protecting the Lebanese financial sector from illicit finance and for adopting and implementing a range of measures designed to combat illicit finance.           

Glaser added that Lebanon should be proud of the achievements of its financial sector and its position within the global financial system, stressing that "the financial sector has remained a source of stability for the people of Lebanon during the crises of the past decades and it continues to provide essential services to Lebanon and the region."