Khaberni -The Bank of Lebanon has issued a decision prohibiting dealings with the financial institution Al-Qard Al-Hassan, affiliated with "Hezbollah", and a number of other financial institutions.
The Bank of Lebanon announced in a statement that it prohibits banks, financial institutions, and other institutions subject to licensing by the Bank of Lebanon, as well as financial intermediation institutions and collective investment bodies, from engaging in any dealings (financial, commercial, or otherwise...), either directly or indirectly, wholly or partially, with exchange institutions, money transfer companies, associations and unlicensed bodies such as "Al-Qard Al-Hassan Association", "Tasheelat Co. LLC.", "Al-Yusr for Finance and Investment", "Muslims’ House of Finance", and others on the international sanctions lists, especially regarding:
- Providing or facilitating financial or cash services, transfers, or brokerage services.
- Establishment or execution of financing, leasing, or lending arrangements.
- Facilitating direct or indirect access to the Lebanese banking system, in any currency, by the aforementioned associations, organizations, companies, or others or by any of their branches.
The Bank of Lebanon pointed out that "non-compliance with the provisions of this decision exposes perpetrators to legal prosecution and the taking of measures that may include: suspension or withdrawal of the license, freezing of accounts and assets, and referral to the Special Investigation Commission."
The bank confirmed that it will take all appropriate administrative and legal actions to enforce the implementation of the provisions of this decision, which will be effective immediately upon its issuance.
