Moneylenders and NGOs added to watchlist categories. Central Bank tightens noose around money launderers

The Central Bank (BDL) has added three categories of customers to the list of clients that banks and financial institutions should classify according to their risk for money laundering and terrorist financing.

BDL's intermediate circular 421 has identified moneylenders (known locally as credit comptoirs) and non-banking institutions that carry out electronic cash transfers. It also includes charitable organizations, especially newly-established, that do not have clear financing programs ...

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Four banks bidding for local HSBC branches. Fransabank, BLF, BLOM, and Audi have been prequalified

Fransabank and BLF are among the banks seeking to acquire the local operations of HSBC, according to a source close to the deal.

BLOM Bank and Bank Audi are also competing for the deal. HSBC has prequalified four banks only.

The banks are not creating consortia to acquire HSBC Lebanon as groups, so only one bank will win the deal, which is still at the negotiation stage and requires the approval of the Central Bank, the source said.

The move is part of HSBC Holdings' plan ...

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