A statement from the Bank of Lebanon on circular 170 .. These are its details

The following statement was issued by the Bank of Lebanon:
“The Bank of Lebanon issued circular No. 170 with a clear and explicit goal: preventing the entry of any money – directly or indirectly – the source of Lebanese bodies or organizations subject to international sanctions, especially the sanctions issued by the American Foreign Assets Control Office (OFAC), to the Lebanese legal banking sector. Allowing these funds will expose the relations of Lebanese banks messaging abroad at risk, especially with the American banks that The transfer operations are in the American dollar. The statement continued: “And any indication is the opposite of this is a support of the powers of the Bank of Lebanon that it does not possess, and the law has not stipulated, especially the law of cash and credit.”