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دايلي بيروت
Kanaan Finalizes AML and CTF Law Amendments
The article covers the session of the Finance and Budget Committee held under the chairmanship of MP Ibrahim Kanaan. During the session, they discussed amendments to the Anti-Terrorism and Money Laundering Law. Kanaan pointed out that Lebanon is currently on the gray list and is working to have its classification upgraded through proposed amendments to the money laundering countermeasures. These amendments include tightening penalties and broadening the scope concerning beneficiaries who are indirect recipients of illicit funds. The discussion also covered increasing Lebanon’s share in the European Bank for Reconstruction and Development, as well as a project to build the Barghasha-Bsharri road worth 13 million dollars. Additionally, there was a discussion about the Financial Regularity Law and the importance of completing the necessary modifications in coordination with the International Monetary Fund.
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