Sfeir from Baabda: U.S. Sanctions Won't Target Other Banks

The head of the Association of Banks in Lebanon, Salim Sfeir, on Friday reassured that “no other Lebanese banks” will be targeted by U.S. sanctions, after Washington sanctioned Lebanon’s Jammal Trust Bank over alleged Hizbullah transactions.

Speaking after a meeting with President Michel Aoun in Baabda, Sfeir said the Association is “studying the U.S. decision regarding Jammal Trust Bank,” while stressing that “the interests and rights of all depositors will be preserved.”

“I have met with the Americans and they confirmed that no other banks will be targeted with sanctions, especially that all banks are abiding by the applicable laws and regulations,” Sfer added.