The Lebanese banking sector is able to guarantee protection for Jamal Trust Bank clients' assets after it was targeted by US sanctions, Finance Minister Ali Hassan Khalil said on Friday
BEIRUT (Pakistan Point News / Sputnik - 30th August, 2019) The Lebanese banking sector is able to guarantee protection for Jamal Trust Bank clients' assets after it was targeted by US sanctions, Finance Minister Ali Hassan Khalil said on Friday.On Thursday, the United States introduced sanctions against Jamal Trust Bank and its insurance companies, accusing the bank of providing services for the Hezbollah movement.
"I am sure that the banking sector is able to realize the consequences of the [US] decision on the Jamal Trust Bank and guarantee protection of assets of customers and stakeholders. The Central Bank is fulfilling its tasks," Khalil wrote on his Twitter page.
The Jamal Trust Bank refuted the accusations which were used by the United States to impose sanctions on it.
"We assert that we are strictly complying with the rules and laws of the Lebanese Central Bank, international regulations, linked to money laundering and financing terrorism," the bank said.
On August 19, President Michel Aoun said that Lebanon was making efforts to support the national currency, the Lebanese pound, specifically by drafting legislation that would condemn rumors about devaluation. The rumors are sparked by the US decision to introduce new sanctions against Hezbollah.
