The Central Bank of Lebanon published conference remarks outlining its approach to strengthening controls against money laundering, terrorist financing and corruption. It is working with the Bank of France on circulars and regulatory frameworks for digital assets and cryptocurrencies, which are not currently covered by a Lebanese legislative framework. The planned approach is intended to regulate and supervise these activities rather than prohibit them, including through stronger suspicious transaction reporting requirements. The central bank also reviewed its three-part framework introduced in 2025, covering access to the financial system, ongoing monitoring of bank-customer relationships and risks involving foreign correspondent banks. Cash transfers or receipts above USD 1,000 in the exchange and payment services sector are subject to enhanced controls, while cash transfers or receipts above USD 10,000 at the bank-customer level face stricter transparency, oversight and accountability requirements. The framework also extends updated, risk-based supervision to payment and transfer companies, digital wallets and nonbank financial institutions. Financial institutions that fail to operate effective compliance programs will face firm supervisory consequences. The central bank is also working with other Lebanese authorities to implement the Financial Action Task Force action plan following Lebanon’s placement under increased monitoring in October 2024, with compliance programs expected to reflect the national money laundering and terrorist financing risk assessment. The remarks called for corruption-related funds and transfers involving politically exposed persons to receive the same scrutiny as terrorist financing.
2026-08-11Central Bank of Lebanon
Central Bank of Lebanon outlines tighter financial crime controls, prepares digital asset rules with Bank of France
The Central Bank of Lebanon is preparing digital asset and cryptocurrency rules with the Bank of France, focused on regulation, supervision and suspicious transaction reporting rather than prohibition. It also outlined enhanced controls across financial system access, customer transactions and correspondent banking, and reiterated that compliance failures will face supervisory consequences. The measures support Lebanon’s Financial Action Task Force action plan following its placement under increased monitoring in October 2024.