AML Policy
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General statement on observance of anti-money laundering requirement:


Fenicia Bank S.A.L, licensed and regulated by the Central Bank of Lebanon, is subject to, and complies with all the Lebanese regulations and laws.


Money laundering and terrorist financing are defined as crimes in the State of Lebanon, by virtue of the provisions of the Law number 318 dated April 20, 2001, and its amendments aiming at combating money laundering and terrorist financing (AML/CFT). 


Fenicia Bank S.A.L. is firmly and tightly committed to fight money laundering and terrorist and criminal activities financing. For this end, Fenicia Bank S.A.L. has implemented an anti-money laundering program that is designed to comply with all Lebanese laws, regulations and guidance preventing money laundering and the financing of the criminal activities.


The anti-money laundering program includes annual training for relevant employees on anti-money laundering and identifying customers as required by the legislation (know your customer KYC regulations and procedures). Relevant employees are also made aware of policies, procedures and processes and are mandated to adhere to them. Written records documenting AML with the applicable procedures are maintained.


Fenicia Bank S.A.L complies with FATF recommendations and it does not maintain accounts with anonymous principles and does not conduct transactions with, or on behalf “Shell Bank” which does not have a physical or legal presence to reasonably ensure that it only operates with correspondent banks that possess licenses to operate in their countries of origin and to ensure that all transactions are not conducted with countries that appear on boycott or sanctions lists that are provided by government or international bodies.


In keeping with both the local regulations and the Bank’s AML program, Fenicia Bank S.A.L. conducts appropriate customer screening and systematic monitoring procedures to detect potential suspicious activities. Furthermore, Fenicia Bank S.A.L. maintains an active due diligence procedures that adopt the risk- based assessment of its customer base and their transactions to prevent any illicit activities at or through the workflow of the bank.

In relation to incorporated entities, these processes entail individuals that control such entities. Any suspicious activities are immediately reported to the Special Investigation Commission (SIC) and other relevant authorities.


Fenicia Bank S.A.L requires from all its correspondent and financial institutions to have appropriate money laundering prevention mechanisms in place. Read More