Report: Glaser in Beirut, U.S. Anti-Hizbullah Law Focus of Visit

Assistant Treasury Secretary for Terrorist Financing Daniel Glaser is expected to visit Beirut with a detailed file on the application of the U.S. law that targets the sources of funding of Hizbullah officials and institutions, al Joumhouria daily reported on Monday.

Banking, financial and political figures await the arrival of Glaser who is expected to land in Beirut in the few coming days.

“The U.S. official will hold meetings with several Lebanese officials including Finance Minister Ali Hassan Khalil, Bank Governor Riad Salameh and the Head of the Association of Banks Joseph Tarabay,” the daily said.

“Glaser is set to inform them of the content of the U.S. decree, and look at the steps taken by Lebanon so far particularly the circular issued by Salameh on the safety of the banks and the actions initiated by the Association of Banks in commitment to the U.S. law,” it added.

U.S. President Barack Obama signed the Hizbullah International Financing Prevention Act on Dec. 18.

In April, the U.S. treasury department's Office of Foreign Assets Control, or OFAC, issued regulations aimed at implementing the Hizbullah financing prevention act.

The U.S. regulations say Washington will target those "knowingly facilitating a significant transaction or transactions for" Hizbullah and those "knowingly facilitating a significant transaction or transactions of a person identified on the List of Specially Designated Nationals and Blocked persons."

OFAC's list includes names of officials, businessmen and institutions that the U.S. says are linked to Hizbullah. The list includes Hizbullah leader Sayyed Hassan Nasarallah and top military commander Mustafa Badreddine as well as some businessmen. The list also includes the group's al-Manar TV and Al-Nour Radio.

Salameh had said in an interview in April that the Central Bank will issue two circulars that urge Lebanese banks to implement the law and inform it about the closure and opening of accounts.

Salameh said the accounts of persons mentioned in the blacklist will be immediately closed. But he stressed that Lebanon will continue to enjoy its banking secrecy.

Lebanon adopted the banking secrecy law in 1956 in a bid to attract Lebanese and foreign deposits.