Author: Bachir El Nakib

Bachir El Nakib, CAMS, ACFE, CFAP. Managing Partner, Senior Consultant Compliance Alert (LLC)

New U.S. Congress Sanctions and Their Potential Impact on Lebanon

65% of deposits in Lebanon are in U.S. dollars, and 72% of loans are denominated in U.S. dollars. Lebanese banks are in need of correspondent banks in the U.S. to clear their transactions in U.S. dollars.