BEIRUT: Lebanon’s acting central bank governor said on Thursday that his institution was still striving to prevent being placed on a “grey list” of countries under special scrutiny by a financial crime watchdog.
Being added to the Financial Action Task Force’s grey list would be another major blow to a country in financial tailspin since 2019, with depositors still locked out of most of their pre-crisis savings and many foreign corresponding banks shunning Lebanon’s financial system.
Reuters first reported in May 2023 that Lebanon had received a preliminary evaluation warranting grey-listing, with gaps in several categories including its anti-money laundering measures, transparency on beneficial ownership of firms and legal assistance in asset freezing and confiscation.
After the initial assessment, Lebanon was granted a year to address those gaps before a final ruling that is set to be announced at the FATF’s plenary in October of this year.
“The Financial Action Task Force (FATF) will issue a decision this coming fall and we are still working hard to prevent Lebanon from being placed on the grey list,” acting central bank governor Wissam Mansouri said, addressing a meeting of the Union of Arab Banks in Beirut.
Mansouri said Lebanon had received low scores on measures to confiscate illicit wealth or address money laundering, and that the country needed to develop an action plan to address the remaining gaps.
In 2023, a diplomatic source and a financial source familiar with the matter said that the central bank’s special investigations commission was lobbying FATF member states in a bid to change the score.
Being put on the FATF grey list could disrupt a country’s capital flows, according to the International Monetary Fund, with banks cutting ties to customers in high-risk countries to reduce compliance costs.
Such a listing also risks reputational damage, credit ratings adjustments, trouble obtaining global finance and higher transaction costs.
In Lebanon’s case, the listing would represent an indictment of the financial system at a painful time. The country has been slow to make progress on key reforms requested by the IMF in April 2022 as prerequisites for a deal with the fund. The economy has slowed further after more than 10 months of hostilities between armed group Hezbollah and the Israeli military in parallel with the Gaza war.
Lebanon central bank governor says ‘working hard’ to prevent grey-listing
https://arab.news/2b37y
Lebanon central bank governor says ‘working hard’ to prevent grey-listing
- Being added to the Financial Action Task Force’s grey list would be another major blow to a country in financial tailspin since 2019
Israel intelligence unit chief quits over October 7 failure
- Israeli army statement: ‘The commander of the 8200 unit, (Brig. General) Yossi Sariel, has informed his commanders and subordinates of his intention to end his position’
- Public broadcaster Kan disclosed the existence of an intelligence brief prepared by Unit 8200 in Sept. 2023 that warned military officials of Hamas’s preparations for the attack
JERUSALEM: The Israeli army said on Thursday that the head of an elite intelligence unit will resign over the failure to prevent Hamas’s October 7 attack.
“The commander of the 8200 unit, (Brig. General) Yossi Sariel, has informed his commanders and subordinates of his intention to end his position,” the army said in a statement.
“The officer will conclude his role in the near future.”
The prestigious and secretive Unit 8200 is in charge of decoding and analizing intercepts and other signals intelligence.
In the wake of October 7, Israel’s Military Intelligence Directorate was thrown into a crisis that led to its commander, Major General Aharon Haliva, announcing his resignation in April 2024.
The army said then that Haliva had asked to be relieved of his duties for the directorate’s failure to foil the October 7 attack.
Israeli media on Thursday broadcast a copy of Sariel’s resignation letter in which he asked for “forgiveness” for “not fulfilling the mission we were entrusted with” on October 7.
In June, public broadcaster Kan disclosed the existence of an intelligence brief prepared by Unit 8200 in September 2023 that warned military officials of Hamas’s preparations for the attack.
Kan said the Unit 8200 document included details of elite Hamas fighters training for hostage-taking and plans for raids on military positions and Israeli communities in southern Israel.
The October 7 attack resulted in the deaths of more than 1,205 people, mostly civilians, according to an AFP tally based on official Israeli figures.
Included in that count are hostages who were killed in captivity.
Israel’s retaliatory offensive against Hamas has killed at least 41,118 people in Gaza, according to the territory’s health ministry. The UN rights office says most of the dead are women and children.
Benjamin Netanyahu has repeatedly refused to open an official inquiry into October 7 until the war in Gaza is over.
Libyan factions have not reached final agreement on central bank crisis, UN Libya Mission says
- Libya’s two legislative chambers agreed this month to jointly appoint a central bank governor, potentially defusing a battle for control of the country’s oil revenue
- Libyan oil exports fell around 81 percent last week as the National Oil Corporation canceled cargoes amid a crisis over control of Libya’s central bank and oil revenue
TRIPOLI: The UN Libya mission said on Thursday that Libyan factions did not reach a final agreement in the talks aimed at resolving the central bank crisis that has slashed oil output and exports.
The two-day consultations to solve the crisis hosted by UNSMIL were between delegates from the Benghazi-based House of Representatives, the High Council of State and the Presidential Council, which are both based in Tripoli.
However, the Mission statement did not mention the presence of the delegation of the Presidential Council on the second day of the talks.
The Presidential Council, based in Tripoli, had only rarely intervened directly in Libyan politics before its head Mohammed Al-Menfi moved in August to replace veteran central bank Governor Sadiq Al-Kabir, which led eastern factions to order a halt of oil flows across Libyan oilfields in protest.
Libya’s two legislative chambers agreed this month to jointly appoint a central bank governor, potentially defusing a battle for control of the country’s oil revenue.
The Mission welcomed on Thursday the progress made between the two legislative bodies “on the principles and timeline that should govern the interim period leading to the appointment of a new governor and board of directors for the Central Bank.”
Libyan oil exports fell around 81 percent last week, Kpler data showed on Wednesday, as the National Oil Corporation canceled cargoes amid a crisis over control of Libya’s central bank and oil revenue.
UN envoy repeats call for prioritization of efforts to end war in Yemen
- Hans Grundberg urges all parties ‘to put Yemen first’ and work toward settlement of the conflict
- Houthis have attacked more than 80 merchant ships since the war in Gaza began, seizing 1 vessel, sinking 2 and killing 4 sailors
LONDON: The UN’s special envoy for Yemen, Hans Grundberg, on Thursday repeated his call for all involved in the war in Yemen to put the country first and prioritize efforts to resolve the conflict.
Addressing a meeting of the UN Security Council on the situation in the Middle East, he said the war in Gaza was having “destabilizing effects across the broader region,” including a negative effect on Yemen.
“Ansar Allah (the more formal name for the Houthis) has continued attacks on vessels in the Red Sea, threatening regional stability and international maritime security,” he told council members.
“In response, the United States and the United Kingdom have continued to strike military targets inside of Yemen.
“I reiterate my concern over this escalatory trajectory and repeat my call for the parties to put Yemen first and to prioritize a settlement of the conflict.”
The Houthis have attacked more than 80 merchant ships with missiles and drones since the war in Gaza began in October last year. They have seized one vessel and sunk two during their campaign, which has claimed the lives of four sailors. Many more missiles and drones were intercepted by the US-led coalition in the Red Sea or failed to reach their targets, which have also included Western military vessels.
The militia continues to insist it is targeting ships with links to Israel, the US or the UK, in an attempt to force an end to Israeli military operations in Gaza. However, many of the targeted ships had little or no connection to Israel or the conflict, including some that were bound for Iran.
Grundberg called for an “immediate ceasefire, the immediate and unconditional release of all remaining hostages, and a massive scale-up of humanitarian aid to Gaza.”
He said the Houthi attack on the Greek-flagged oil tanker Sounion on Aug. 21 was a “development of particular concern” and “raises the imminent threat of a catastrophic oil spill and environmental disaster of unprecedented scale.”
Following the attack, fires burned for weeks on the vessel, which is carrying about 1 million barrels of crude oil. Salvage efforts are continuing but proving difficult.
“An oil spill on this scale would have dire consequences for both Yemen and the broader region … I strongly urge Ansar Allah to end their dangerous targeting of civilian vessels in the Red Sea and beyond,” Grundberg said.
He also demanded that the Houthis release all of the Yemenis they have detained who were engaged in critical efforts related to humanitarian assistance, development efforts, human rights, peace building, and education.
“This includes United Nations personnel, members of civil society, staff of diplomatic missions, private-sector employees, and individuals from minority religious communities,” Grundberg said.
“The continued detention of these individuals is a profound injustice to those who have dedicated their lives to the betterment of Yemen. These detentions are shrinking civic space and negatively impacting humanitarian efforts critical to Yemenis.”
Joyce Msuya, the acting under-secretary-general for humanitarian affairs and acting emergency relief coordinator at the UN Office for the Coordination of Humanitarian Affairs, echoed this demand.
“I want to start by expressing our deep concern about the continued arbitrary detention of United Nations personnel, non-governmental organization staff and civil society representatives, among others, by the Houthi de facto authorities.
“These colleagues have now been detained for more than three months. Four additional colleagues remain in detention since 2021 and 2023. I reiterate, in the strongest terms, the secretary-general’s demand for their immediate and unconditional release.
“Additionally, we strongly reject false allegations by the Houthi de facto authorities against humanitarians, including recent claims of interference in Yemen’s education system. These allegations threaten the safety of staff, further hinder the ability of the UN and its partners to serve the Yemeni people, and must cease immediately.”
She told council members the steady deterioration of the humanitarian situation in Yemen continues.
“62 per cent of surveyed households report they do not have enough food to eat,” Msuya said. “This is historically high. For the first time on record, three districts — two in Hodeidah and one in Taiz — are facing extremely critical levels of malnutrition: IPC Phase 5. One more district is projected to reach this level by October.”
IPC is the Integrated Food Security Phase Classification, and level 5 denotes famine in an area and catastrophe for households there because they do not have enough food to meet basic needs.
“By the end of 2024, more than 600,000 children in Government of Yemen-controlled areas are estimated to be acutely malnourished, and around 118,000 are projected to suffer from severe acute malnutrition, a 34 per cent increase since 2023,” Msuya added.
Slovenia’s representative to the council, Samuel Zbogar, who is the president of the council this month, welcomed the World Food Programme’s ongoing emergency distribution of aid in Yemen.
“We are also following with concern the devastating impact of recent flooding, which has affected hundreds of thousands of Yemenis, aggravated the displacement crisis and exacerbated the outbreak of diseases,” he added.
EU foreign policy chief urges de-escalation at Lebanon-Israel border
- US envoy visits Israel to warn against large-scale military action
- Hezbollah adds another Israeli settlement to target list
BEIRUT: EU foreign policy chief Josep Borrell has called for a de-escalation of tensions on the Lebanon-Israel border, expressing fears of “more regional escalation due to the war in Gaza and especially in Lebanon.”
He called on Lebanese leaders to work for the interests of their country and its people and “not for someone else’s interests.”
During a visit to Beirut on Thursday, Borrell met with Parliament Speaker Nabih Berri, caretaker Prime Minister Najib Mikati, Foreign Minister Abdallah Bou Habib, and Commander of the Lebanese Armed Forces Joseph Aoun.
He said that “the full implementation of UN Resolution 1701 should pave the way for a comprehensive settlement, including the demarcation of land borders between Lebanon and Israel.”
With more than 4,000 buildings completely destroyed and some 110,000 people having fled their homes in Lebanon, he said its people wanted peace, stability and prosperity — not war.
He added: “My main message today is that the EU stands with the Lebanese people to overcome the challenges as much as possible.”
Borrell warned that fears of further escalation and increased human suffering were growing and emphasized the importance of economic reform and bank restructuring.
The EU was ready to continue its support for Lebanon, he added: “We can help but we cannot overcome the internal obstacles. The Lebanese themselves can do so.”
Borrell’s meetings came amid ongoing hostilities between Hezbollah and the Israeli army on the Lebanese southern front.
Parliament Speaker Nabih Berri told Borrell: “Lebanon doesn’t want war but has the right and the capacity to defend itself.”
Caretaker Prime Minister Najib Mikati emphasized “the necessity to intensify the international and UN pressure to stop the ongoing Israeli aggression against Lebanon.”
Israeli Channel 12 reported that US envoy Amos Hochstein had arrived in Israel with a message that the country should refrain from large-scale military action in Lebanon. The channel said both the US and Israel realized a war with Hezbollah could lead to a multi-front conflict, but while Hochstein would make efforts for settlement in the north, such agreement was linked to a ceasefire in Gaza.
Israeli action against Hezbollah has increased in recent days. The militia added the settlement of Rosh HaNikra to its list of targets for the first time, along with Matzuva which was hit with salvos of rockets.
A statement said this was “in response to Israel’s attacks on the steadfast southern villages and safe civilian homes, particularly the two wronged martyrs in El Biyada.”
In the town of El Biyada, an Israeli combat drone targeted a motorcycle and killed two brothers aged 12 and 17. Israeli artillery north of Ein Yaakov came under rocket fire, while Bayad Blida and Al-Malikiyah was attacked with heavy artillery shells.
Israeli media reported a fire north of Nahariya as a result of rocket fire from southern Lebanon, saying 50 rockets had been launched toward Western Galilee.
Israeli artillery shelled the outskirts of Alma Al-Shaab and the Labouneh area in Naqoura, and a drone targeted the outskirts of Maroun Al-Ras Park.
Israeli reconnaissance aircraft continued to fly over southern areas, especially western and central villages, extending to the outskirts of the Litani River and the coast.
Car blast kills four in Israel city: medics, police
- The Israeli police said it had launched an investigation into the cause of the explosion
- It was suspected to be linked to “a criminal conflict between crime families in the Arab neighborhood“
RAMLA, Israel: Four people were killed and eight injured when a vehicle exploded in the central Israeli city of Ramla on Thursday in an apparent gangland hit, medics and police said.
Liad Aviel, spokesman for the Asaf Harofe Medical Center in central Israel, said it “mourns the deaths of four individuals injured in the Ramla incident,” adding that six other casualties were receiving treatment there.
The Israeli police said it had launched an investigation into the cause of the explosion which was suspected to be linked to “a criminal conflict between crime families in the Arab neighborhood.”
Israel’s far-right National Security Minister Itamar Ben Gvir visited the site of the explosion and said police would “continue to fight this crime with all the tools at its disposal.”
“But I warn: crime in the Arab community requires more extensive tools and broader powers.”
Israeli opposition leader Yair Lapid criticized Ben-Gvir’s visit to the scene.
“There have been incompetent ministers before him, but he’s the first to turn failure into a profession,” he wrote on social media platform X.
Israel’s emergency medical service Magen David Adom said the vehicle “exploded while parked on the sidewalk near a store and residential building” in Ramla.
“As a result of the explosion, several passersby were injured by the blast and shrapnel,” rescue worker Benny Cohen said in a statement.
“The burning car was parked next to the store entrance, which prevented people inside the store from getting out.
“We moved the injured we were treating away from the fire scene... The rescued victims were unconscious, and our teams began advanced resuscitation efforts and transported them to hospitals in critical condition.”
Liat Cohen, another paramedic at the scene, said the unconscious victims included a month-old infant and a 50-year-old woman.
All suffered from smoke inhalation and were transported to hospital, he said.
“They tell us it’s a settlement of personal scores, but an explosion downtown in midday in a crowded area, that’s crazy,” Judith Touati, a Ramla resident and mother of seven, told AFP.
“My children were there just an hour before.”
Located east of Israel’s commercial hub of Tel Aviv, Ramla is a mixed city, home to both Jews and Arabs.
Arab communities in Israel have long complained of violence connected to organized crime.
Organizations such as the Mossawa Center, a nonprofit representing Arabs in Israel, argue such violence should receive more attention from the government.
