Central Bank governor Riad Salameh said Friday “the Lebanese Canadian Bank abides by Lebanese laws and international standards,” a day after the Treasury Department accused it of laundering hundreds of millions of dollars in drug profits for a cocaine smuggling organization with ties to Hizbullah.
The bank “receives the absolute support of the Central Bank,” Salameh said.
“Management of this bank is highly professional and the bank has high liquidity reserves,” he said. “We would like to reassure customers that their operations are safe.[Naharnet]”
It is very kind for our central bank governor to defend the bank and prevent its bankruptcy but shouldn’t there be an investigation into this issue?
I heard the other day some other major banks are involved as well but not yet revealed.