Acting central Bank Governor prevented Lebanon from being put on the ‘grey list’

Acting central Bank Governor prevented Lebanon from being put on the ‘grey list’

Reuters reported last May that Lebanon was likely to be placed on the Financial Action Task Force’s list over unsatisfactory practices to prevent money laundering and terrorism financing.

But Al-Jadeed TV reported that “the acting Governor of the Bank of Lebanon, Wassim Mansouri, was able to prevent Lebanon from being included on the gray list of the International Financial Action Organization (FATF), at present.”

When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolving swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. This list is often externally referred to as the “grey list”.

Acting central Bank Governor prevented Lebanon from being put on the ‘grey list’