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05-17-2016, 05:51 AM
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Leba**n seeks to ease concerns over US law on Hizbullah
The US Hizbullah International Financing Prevention Act (HIFPA) passed in December threatens sanctions against anyone who finances Hezbollah in a significant way. It has ignited an unprecedented dispute between Leba**n’s most powerful group - the heavily armed Hizbullah - and a central bank widely seen as a pillar of the otherwise weak and dysfunctional Lebanese state. Prime Minister Tammam Salam, in comments reported in As-Safir newspaper, warned against using the issue for political grandstanding. "We are dealing with it with the finance minister and the central bank gover**r, and matters are still under control," he said. Hizbullah MPs last week said the law was paving the way for "a local war of elimination" launched with the help of the Lebanese central bank and a number of other banks. It urged the central bank gover**r to review a recent circular to banks detailing regulations about who can be sanctioned. The MPs said the law would push the country "towards bankruptcy because of a wide rift" that would emerge between Lebanese and the banks - a suggestion that many Lebanese would stop dealing with the banks for fear of being sanctioned. Hizbullah, whose fighters played a major role in forcing Israel to withdraw from southern Leba**n in 2000, enjoys strong support in the Lebanese community. Its members include government ministers, MPs, and local councillors. Leba**n’s banking sector accounts for around 6 percent of gross domestic product. Since 2001, the United States has put more than 100 individuals and entities affiliated with Hizbullah on sanctions lists under existing anti-terrorism funding legislation, but this new law is aimed at Hizbullah specifically. Iran-backed Hizbullah, classified as a terrorist group by the United States, wields e**rmous political influence in Leba**n and its powerful military wing is playing a major role in the Syrian conflict. Central Bank gover**r Riad Salameh recently used an interview on a flagship current affairs programme to assure citizens the regulations protect them from having bank accounts arbitrarily blocked or closed. The United States has a list of people sanctioned for terrorism. A Lebanese bank or company doing business with one will **t be able to do deal with any US financial institution because that institution could be fined for **n-compliance. While in theory a Lebanese bank could carry on working with these individuals and just accept that it can**t have a relationship with international banks, Salameh said this would **t be an option and all banks must comply. The Association of Banks in Leba**n said there are Lebanese banks in 33 countries and the regulations are necessary to keep Leba**n part of the global banking system. أكثر... ??????? ??????: Leba**n seeks to ease concerns over US law on Hizbullah || ??????: ahlam1399 || ??????: اسم منتداك
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