Please note this disucssion is off-the-record.
Lebanon’s banking sector has long stood out as one of the country’s greatest assets and a pillar of economic stability. Its size and sophistication have set it apart as a model in the region. Recently, however, the ongoing Syrian conflict and Hezbollah’s influential role in Lebanon have drawn concerns about the ability of Lebanese banks to guard off the impact of international sanctions on Syria and Iran. What are the steps that Lebanese banks are taking to ensure compliance with US sanctions, anti-money laundering, and anti-terrorism financing laws?
This discussion will address the state of the financial sector in Lebanon, with a special focus on its strengths and vulnerabilities in this time of regional transition, and the US government’s engagement with Lebanese banks on these issues.
- Joseph Torbey, Chairman, Association of Banks in Lebanon
- Hagar Chemali, Senior Policy Advisor, Office of Terrorist Financing and Financial Crimes, US Department of Treasury
- David Mortlock, Deputy Coordinator for Sanctions Policy, US Department of State
Moderated by James Pickup, General Counsel, The Aspen Institute