Lebanon deny US accusation on money laundering

In a report by the US las week, Lebanon was placed by the US on a list of countries that are uncooperative in combating money laundering efforts.

Lebanese officials placed the U.S report in a political frame rather than a legislative and legal one, saying that this matter comes in an intensive and unjust campaign.

The banks association assured that there is no money laundering in Lebanon citing that the report of the U.S administration for year 2000 has previously referred that there is no money laundering in Lebanon.

Makram Sadek, the secretary general of the banks association said that "there is no money laundering in Lebanon through the Lebanese banking system and its banks absolutely deny such allegations," adding that there are banking controls in place which monitor money flow in and out of the country.