Cohen Meets Miqati, Salameh, Hopes Syrian Crisis Won't Affect Lebanon's Financial Sector

U.S. Treasury Undersecretary for Terrorism and Financial Intelligence David Cohen held talks on Tuesday with Prime Minister Najib Miqati, Central Bank Governor Riyad Salameh, and a number of representatives from the Lebanese banking sector, announced the U.S. Embassy in a statement.

“In his meetings, Cohen reiterated the U.S. view that it is important to ensure that the current instability in Syria does not undermine the Lebanese financial sector,” it said.

“He discussed the steps Lebanon should take to ensure a transparent and well-regulated financial sector for Lebanon’s continued prosperity,” it added.

He also stressed the need for authorities to protect the Lebanese financial sector from potential attempts to evade U.S. and international financial sanctions against Syria and Iran, renewing the commitment of the United States to a stable, sovereign, and independent Lebanon.

Media reports on Monday said that this talks may also focus on following up the case of the Lebanese Canadian Bank which the Treasury Department has accused of laundering hundreds of millions of dollars on behalf of a drug lord with alleged links to Hizbullah.

A Lebanese government official told Agence France Presse that in his meeting with Cohen, Miqati underlined Lebanon's commitment to abide by international regulations.

"We are keen on respecting international decisions and cooperating with financial and international authorities," said the official, who requested anonymity.

"The banking sector cannot do anything that would expose it," he added.