Lebanese banks slam US lawsuit 'slander' by Israelis

AFP, July, 2008

BEIRUT (AFP) — Lebanese bankers being sued by Israelis in a US court for allegedly supporting the Shiite Hezbollah group have said they are the target of slander and insisted that they are committed to high standards.

"Lebanese and Arab banks are subject to slander campaigns... and this will not affect their integrity and reputation," the Lebanese Banking Association said in a statement issued on Tuesday.

"Lebanese banks and financial and implementing authorities have for years relied on sophisticated standards to counter money laundering and terrorist financing in line with the recommendations of the international working group on banking secrecy."

The suit by 60 Israeli victims of the 2006 Lebanon war seeks at least 100 million dollars in damages from Fransabank, Banque libanaise pour le commerce (BLC), Bank of Beirut, Banque Libano-Francaise SAL and the Middle East and Africa Bank.

It was ...