Saudi Arabia Adopts New Measures to Ban Remittances from Hezbollah

Jeddah, 11 Ramadan 1437/17 June 2016 (MINA) – Saudi Arabia has taken new measures in connection with the bank remittances of the Lebanese working in the Kingdom, said Lebanese Chamber of Commerce Chairman Mohammed Shugair.

Remittances will take nearly three days to arrive in Beirut — the time spent to identify the sender and to whom remittances are sent in a bid to prevent the arrival of money transfers to terrorist organizations, Shugair was quoted by Arab News as reporting.

He said the new Saudi step is not a political move but “an economic and security measure and a commitment to international banking laws”.

Last April, Saudi Arabia and the US added a number of organizations to the list of terrorist groups. The Saudi-US partnership has helped to take measures against six individuals and entities who were collecting funds to support terrorist activities linked to the so-called Hezbollah of Lebanon.

Currently, there are 17 individuals and entities affiliated to Hezbollah on the list categorized by the by the Kingdom as terrorists.

The Central Bank recently closed 100 bank accounts linked to Hezbollah in line with orders of the US which is targeting financiers of terrorists. (T/R07/R01)

Mi’raj Islamic News Agency (MINA)