Lebanon's new central bank governor, Karim Souaid, has pledged to combat money laundering and terrorism financing while working independently from political intervention. He also plans to restructure the banking sector, address public debt, and return money to depositors. Lebanon's economy has been in crisis since 2019, exacerbated by the Israel-Hezbollah war and the Beirut port blast. Souaid aims to implement international laws to combat money laundering and support terrorism, and prioritize the return of deposits, starting with small accounts. He will study previous economic recovery plans to help the country overcome the crisis.

Original article source: https://www.dailymail.co.uk/wires/ap/article-14571335/Lebanons-new-central-bank-chief-vows-fight-money-launduring-terrorism-funding.html
Source Id: 8620442237