Statement to address Lebanon's commitment to anti-money laundering and counter-terrorism measures

Lebanon News
2023-05-29 | 04:27
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Statement to address Lebanon's commitment to anti-money laundering and counter-terrorism measures
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3min
Statement to address Lebanon's commitment to anti-money laundering and counter-terrorism measures

The Secretary-General of the Special Investigation Commission (SIC) responsible for implementing anti-money laundering and counter-terrorism financing laws, Abdul Hafiz Mansour, announced that a statement would be issued to clarify certain aspects of the report that may include some shortcomings in assessing Lebanon's commitment to anti-money laundering and counter-terrorism measures.

Prime Minister Najib Mikati met with Mansour this morning at the Grand Serail and was briefed on the outcomes of the working groups' meetings and the 36th plenary meeting of the Middle East and North Africa Financial Action Task Force (MENAFATF) held in the Kingdom of Bahrain.

However, Mansour stated after the meeting, "PM Mikati met with me this morning to inquire about the assessment of Lebanon's commitment to anti-money laundering and counter-terrorism measures, and I provided him with a comprehensive overview.”

“Lebanon underwent a 16-month assessment period of its compliance with international standards for combating money laundering and terrorist financing, which is a lengthy period. However, these procedures are normal and applied in all countries worldwide. As stated in the statement issued by the SIC last weekend, the report was the subject of discussion during three sessions," he added.

Moreover, he emphasized the need to wait for the report to be published next month before discussing any actions related to listing and violations, contrary to the news that circulated last week.

He said, "Lebanon was represented during the discussions and deliberations by a team that demonstrated a high level of professionalism, which was appreciated by all attendees. They made great efforts to discuss this report, and God willing; we will see the results in the report that will be published next month."

Mansour continued, "on this occasion, I would like to thank all the parties that supported us, as well as the team composed of the staff of the SIC and the judges."

He revealed that a statement would be issued to clarify certain aspects of the report that may include some shortcomings that Lebanon needs to address, as well as some strengths.

Responding to a question, he clarified, "the assessment process follows specific procedures and criteria, and therefore, the discussion was serious and intense to assess the level of compliance with these standards. It is not necessary to draw any conclusions or interpretations before the report is released."

Lebanon News

Statement

Address

Lebanon

Commitment

Anti-money

Laundering

Counter

Terrorism

Measures

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