Lebanon has been placed on a grey list of countries under special scrutiny by financial crime watchdog FATF, two financial sources said, with the official announcement expected later today.
A spokesperson for Lebanon's central bank and forthe Financial Action Task Force (FATF) had no immediate comment.
Lebanon has been in a financial crisis since 2019 that has been left to fester by the country's leaders and now faces growing damage from Israeli airstrikes and ground operations against Hezbollah.
One source said the war had led the FATF to give Lebanon until 2026 instead of 2025 to address the issues that led to its grey-listing, including concerns over terrorism financing and a lack of judicial independence.
The grey-listing is likely to further deter investment in Lebanon and could affect the relationship between some Lebanese banks and the global financial system.
UK's Jaguar Land Rover to cut 4,000 jobs over next two years
Salik renews tolling technology deal for five years
Volkswagen flags 50,000 job cuts across group
UAE tightens anti-fraud rules, sets 24-hour deadline to withdraw fake goods
Apple facing $2.7 billion UK lawsuit over 'unfair' app tracking rules
