US sanctions against Iran will not affect local banks. Lenders are already in full compliance

Local banks will not be affected if SWIFT complies with U.S. sanctions against Iran, which have been put into effect.

SWIFT, the Society for Worldwide Interbank Financial Telecommunication, provides financial messaging services, such as money transfer instructions, between banks across the world.

Makram Sader, Secretary General of the Association of Banks, said that Lebanese banks don't have any correspondent relationships with Iranian banks. Local banks stopped de facto dealings e...

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