Lebanese Central Bank revokes Export Iran Bank license

The Lebanese Banking Control Commission canceled the local license of Export Iran Bank in order to protect the Lebanese banking sector from external risks, especially after the United States imposed sanctions on the bank. Although the bank's activity in Lebanon is limited and subject to strict monitoring, it has remained isolated from the local banking system for years, with only five branches and no more than 70 employees. This step comes as part of Lebanon's efforts to comply with anti-money laundering standards and achieve financial stability, amid ongoing negotiations with the International Monetary Fund regarding the restructuring of the banking sector and the recovery of deposits.

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