Lebanon: Sanctions-Hit Bank Denies Hezbollah Ties

  • 8/30/2019
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A Lebanese bank targeted by the US Department of the Treasury for "knowingly facilitating banking activities" for the militant Hezbollah group has denied the charges, saying it abides by international laws. Washington hit the bank and its subsidiaries with sanctions on Thursday for allegedly facilitating the financial activities of the Shiite Hezbollah movement in Lebanon. The US Treasury Department accused the bank of funneling money to the families of suicide bombers. Jammal Trust, a 50-year-old commercial bank with branches throughout Lebanon, said it “unequivocally denies all the allegations” that prompted what it described as “surprising” sanctions. Fridays statement also said the bank is committed to "abiding strictly by Central Bank of Lebanon rules and regulations, as well as all international rules and regulations on countering money laundering and financing of terrorism." The bank also said it shall take appropriate steps in order "to clear its good name," adding that it would appeal the Treasurys decision. Secretary of State Mike Pompeo said the United States is determined to cut off support in Lebanon for heavily armed Hezbollah, which Washington classifies as a terrorist group. Washington has sought to choke off Hezbollah funding, with sanctions among a slew of fresh measures against Tehran since US President Donald Trump withdrew last year from a 2015 international nuclear deal with Iran.

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