{"id":43809,"date":"2019-09-08T10:43:33","date_gmt":"2019-09-08T10:43:33","guid":{"rendered":"https:\/\/npasyria.com\/en\/?p=43809"},"modified":"2019-09-08T10:43:33","modified_gmt":"2019-09-08T10:43:33","slug":" Suspending Al-Jammal Trust Bank for financing Hezbollah activities ","status":"publish","type":"post","link":"https:\/\/npasyria.com\/en\/43809\/","title":{"rendered":"Suspending Al-Jammal Trust Bank for financing Hezbollah activities"},"content":{"rendered":"<p class=\"MsoNormal\"><span style=\"font-size: 24px;\"><b>Beirut \u2013 North-Press Agency<\/b><\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 24px;\"><b>Layal Khoroubi<\/b><\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 24px;\">The United States continues to impose sanctions on Lebanon to pressure Hezbollah at the height of the Iran-US conflict.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 24px;\">The latest U.S. strike on Lebanon\u2019s banks was to put \u201cJammal Trust Bank\u201d on the terrorism list last week for providing financial and banking services to affiliated associations with Hezbollah as Qard al-Hasan, the Martyr Foundation and the executive council of Hezbollah.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 24px;\">Until now, the mechanism by which the Central Bank of Lebanon is going to deal with this issue has not been materialized, if they would merge it with another bank, as happened with the Lebanese Canadian Bank, whose assets and liabilities were sold to another bank in 2011 after the separation of accounts that the Americans accused of laundering money for Hezbollah.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 24px;\">At the same time, a banking source suggested that self-liquidation is the only solution for the bank, because it has practically ended up after being placed on the US OFAC (Office of Foreign Assets Control) regulations.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 24px;\">The source described the bank&#8217;s listing on terrorism regulations as banking machiavilla, stressing that Al-Jammal Bank in 2003 had closed the accounts of the mentioned institutions in the decision after they were banned by the United States.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 24px;\">Thus, these actions against the bank are a moral blow and a political message.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 24px;\">Regarding the banking process, the source explained to North-Press that any bank intends to buy liabilities and assets must obtain a US guarantee not to be included in the same list or accused of helping to finance terrorism, a guarantee that is difficult to obtain.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 24px;\">Regarding the consequences of the US decision on the Lebanese banking sector, the source warns of the dangers of listing banks each after another on the OFAC regulations which will shake the international confidence in Lebanon, specifically the Gulf depositors, because the suspicion of financing terrorism will apply to the Lebanese banking sector as a whole.&#8221;<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 24px;\">The banking source expressed his belief that sanctions will not stop, where today a bank owned by a Shiite businessman was liquidated while three other Shiite-owned banks remain in Lebanon and are not neutralized from the possibilities of US sanctions as long as the US goal is to strangle the hostile environment of Hezbollah.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 24px;\">Al-Jammal Bank was funding modest agricultural and commercial projects in the southern and remote Bekaa regions (Hezbollah strongholds), and part of the Shiite expatriates were depositing their money in the bank.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 24px;\">While Washington&#8217;s inclusion of the bank on the terrorism list has opened a series of speculation about the fate of depositors&#8217; money, and the future of the 400 employ who were living with their families from the bank.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Beirut \u2013 North-Press Agency Layal Khoroubi The United States continues to impose sanctions on Lebanon to pressure Hezbollah at the height of the Iran-US conflict. The latest U.S. strike on Lebanon\u2019s banks was to put \u201cJammal Trust Bank\u201d on the terrorism list last week for providing financial and banking services to affiliated associations with Hezbollah [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":43810,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pgc_sgb_lightbox_settings":"","footnotes":""},"categories":[8],"tags":[],"class_list":["post-43809","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-middle-east"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Suspending Al-Jammal Trust Bank for financing Hezbollah activities  - North press agency<\/title>\n<meta name=\"description\" content=\"Beirut \u2013 North-Press AgencyLayal KhoroubiThe United States continues to impose sanctions on Lebanon to pressure Hezbollah at the height of the Iran-US\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/npasyria.com\/en\/43809\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Suspending Al-Jammal Trust Bank for financing Hezbollah activities  - 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