UANI Responds to Lebanese Central Bank Governor Salamé Regarding the True Nature of Lebanon's Banking System, Poses Five Questions

   

FOR IMMEDIATE RELEASE July 10, 2012 Contact: Nathan Carleton, press@uani.com Phone: (212) 554-3296 UANI Responds to Lebanese Central Bank Governor Salamé Regarding the True Nature of Lebanon's Banking System, Challenges him to Answer Five Questions New York, NY - United Against Nuclear Iran (UANI) CEO, Ambassador Mark D. Wallace, issued the following statement Tuesday in response to statements by Lebanon's Central bank Governor, Riad T. Salamé, on UANI's concerns about the legitimacy of the Lebanese banking system: Governor Salamé's statements that portray the Lebanese banking system (LBS) as legitimate are not credible.  Our findings clearly show that the Lebanese Central Bank, Banque du Liban (BDL), has presided over a banking system controlled by Hizballah and illicitly used by Iran. Governor Salamé no longer presides over a legitimate LBS, and the illicit funding of Hizballah by Iran through Lebanese banks provides the foundational support of the LBS deposit base. That deposit base is used by Lebanon to fraudulently support the greater Lebanese economy, Lebanese sovereign-backed securities, and the credit default swaps (CDS) that insure those securities.  Without such illicit Hizballah and Iranian monies flowing into Lebanon, Lebanese banks would be unable to purchase Lebanese sovereign debt.  Without such purchases Lebanese sovereign debt (and premiums on the CDS) would reflect the true realities of the dire politics of Lebanon and the enormous Lebanese debt-to-GDP ratio - the 4th highest in the world.  Governor Salamé faces tough questions that he may be unable to answer. We call on him to answer the following:   1.  Do you disagree that Hizballah is the dominant political party in Lebanon? 2.  Do you disagree with Hassan Nasrallah when he said: a. "By the same means that we got weapons and other stuff, money came as well ... All of this has been achieved through Iranian money!" (Neil MacFarquhar, "Iran Is Seeking Lebanon Stake As Syria Totters," The New York Times, 5/24/12) b.  That Iran is the dominant financial supporter of Hizballah? (Hurriyet Daily News, "Iran Funds Hezbollah, Leader Nasrallah admits," 2/ 9/12) 3.  Do you disagree with the statement that "While Iran continues to provide a significant portion of Hizballah's funding, Hizballah has also broadened its sources of financial support in recent years. Hizballah is now heavily involved in a wide range of criminal activity, including the drug trade and smuggling." (United States of America v. Lebanese Canadian Bank SAL, et al., 11 Civ., at p. 19, 12/15/11) 4.  Do you agree that the international community "cannot hope to apply effective financial pressure against a group like Hizballah so long as it maintains massive inflows of cash from a state sponsor of terrorism, in this case the Iranian Government." ? (Adam J. Szubin, Director, Office of Foreign Assets Control, U.S. Department of the Treasury, Testimony before the Senate Committee on Banking, Housing and Urban Affairs, 9/12/06) 5.  Can you definitively say that BDL has not: a.  Transacted or held accounts with or for any Iranian institutions or persons? b.  Transacted with the Iranian Central Bank, Bank Markazi? c.  Facilitated through the LBS the illicit Iranian support of Hizballah and Iranian weapons sales and support of Hizballah and Syria's illegitimate Assad regime? Last week, UANI announced the results of a three month-long investigation into the influence of Iran and Hizballah in the Lebanese banking system (LBS) and Lebanon's sovereign bond market, and announced a campaign to compel legitimate financial institutions into divesting from Lebanon's bond market. Click here to read the Daily Star article "Salameh: Banking sector abides by law." Click here to read the NOW LEBANON article "Flush with cash, Lebanese banks raise eyebrows." Click here to view UANI's research, "HIZBALLAH, LEBANON & IRAN: PARTNERS IN A SOVEREIGN MONEY LAUNDERING SCHEME." Click here to read UANI's May 28 letter to Riad Salamé. Click here to read UANI's May 28 letter to Lebanese bondholders. Click here to read UANI's May 28 letter to the world's leading bond credit agencies. Click here to call on the U.S. Government to Sanction the Lebanese Banking System and for Bond Holders and Credit Agencies to end Lebanon Business. ###                                                                          United Against Nuclear Iran (UANI) is a program of the American Coalition Against Nuclear Iran, Inc., a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. The prospect of a nuclear-armed Iran should concern every American and be unacceptable to the community of nations. Since 1979 the Iranian regime, most recently under President Mahmoud Ahmadinejad's leadership, has demonstrated increasingly threatening behavior and rhetoric toward the US and the West. Iran continues to defy the International Atomic Energy Agency (IAEA) and the United Nations in their attempts to monitor its nuclear activities. A number of Arab states have warned that Iran's development of nuclear weapons poses a threat to Middle East stability and could provoke a regional nuclear arms race. In short, the prospect of a nuclear armed Iran is a danger to world peace. United Against Nuclear Iran (UANI) is a non-partisan, broad-based coalition that is united in a commitment to prevent Iran from fulfilling its ambition to become a regional super-power possessing nuclear weapons.  UANI is an issue-based coalition in which each coalition member will have its own interests as well as the collective goal of advancing an Iran free of nuclear weapons. The Objectives of United Against a Nuclear Iran Inform the public about the nature of the Iranian regime, including its desire and intent to possess nuclear weapons, as well as Iran's role as a state sponsor of global terrorism, and a major violator of human rights at home and abroad; Heighten awareness nationally and internationally about the danger that a nuclear armed Iran poses to the region and the world; Mobilize public support, utilize media outreach, and persuade our elected leaders to voice a robust and united American opposition to a nuclear Iran; Lay the groundwork for effective US policies in coordination with European and other allies; Persuade the regime in Tehran to desist from its quest for nuclear weapons, while striving not to punish the Iranian people, and; Promote efforts that focus on vigorous national and international, social, economic, political and diplomatic measures. UANI is led by an advisory board of outstanding national figures representing all sectors of our country.

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