Arab bankers support forming an Arab banking system

President of the Arab Banking Federation called on Monday the Arab states to take additional procedures as to fortify the banking apparatus from money laundering and financing terror.

"It is a need to build an Arab mechanism to coordinate collective fighting of money laundry," Joseph Tarbeih told the banking forum to fight money laundering and terror financing.

President of the financing work team for the Middle East, Mohammed Baaseri, said the world is concerned with involving in the international and regional efforts aimed at revitalizing banking and financial markets against money laundering and terrorism financing.

Governor of Lebanon Bank, Riyadh Salameh, said the world is heading to impose new criteria for financial and banking work noting the necessity that banks be up todate with new international criteria.