Salameh: Money Transfer Firms Must Not Pay in Dollar to Recipients

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January 15, 2019

Central Bank Governor Riad Salameh on Monday called on all money transfer companies operating in Lebanon, such as Western Union and OMT, to exclusively use Lebanese currency when dispensing foreign cash transfers to recipients.

Central Bank sources told LBCI TV that the request is aimed at combating money laundering.

“All firms that carry out cash transfers with electronic means must pay the value of electronic transfers coming from abroad exclusively in Lebanese lira,” Salameh says in his memo.

The memo does not mention or affect bank transfers.

Source: Naharnet


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