The Union of Arab Banks and World Union of Arab Bankers organized a seminar on The Implementation of Compliance Departments in Lebanese Banks and Financial Institutions, The Lebanese Experience – with a special focus on The US Treasury and IRS Final Regulations known as FATCA.
In his opening speech, Dr. Joseph Torbey said The main purpose for the creation of this department is to ensure that Lebanon complies with international banking regulations and respects correspondence banking requirements as well. The Seminar pinpointed these important issues that raise many challenges for the Arab Banking Sector to asses and overcome in coordination with these local, regional and international compliance standards.
