September 19, 2019 / 10:47 AM / a month ago

Lebanon bank says U.S. sanctions forced it to disolve itself: statement

BEIRUT (Reuters) - Lebanon’s Jammal Trust Bank said on Thursday it was forced to disolve itself after it was hit by U.S. sanctions last month.

“Despite its sound financial situation...and its full compliance with banking regulations, the (bank) was forced to take the decision to liquidate itself in full coordination with the central bank,” it said in a statement.

Reporting by Ellen Francis and Laila Bassam

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