BEIRUT | NNA - April 27, 2011

http://www.iloubnan.info/business/actualite/id/60699

Lebanese Central Bank's governor, Riad Salameh, inaugurated on Wednesday the conference on "fighting money laundering and terrorism funding" organized by the Arab Banks' Union at the Coral Beach Hotel.

This conference was held by Salameh for it sheds light on the renown of the banking activity. "The G20 constantly tackle developments so as to fight money laundering, and world groups FATF and OECD endeavour to establish a suitable environment to curb dirty money implication in any world financial market," he said.

"Both private and public institutions in Lebanon have considerably contributed to fighting money laundering...the challenge lies within finding means to help end these operations," he added.

Salameh stressed "Lebanon endeavours to promote the level of judicial systems and to fortify weaknesses relevant to current legislations as well as to bring necessary laws into effect."

He said the Central Bank had proposed before the cabinet the formation of a national commission in order to bolster and facilitate the cooperation with the Lebanese committees concerned with fighting money laundering.