Close Menu
    Facebook X (Twitter) Instagram
    Tuesday, July 15, 2025
    961
    Instagram Facebook LinkedIn TikTok
    • Breaking News
    • Guides
    • Food & Drink
    • Listicles
    • Join the Team
    • Whatsapp
      • 961
      • 961 News
    Advertise with Us Get the App
    961
    Home»News»Lebanon News
    TDS/Mohammed Zaatari | Reuters
    2 Mins Read

    Lawsuit Against 12 Lebanese Banks For Allegedly Aiding Hezbollah Is Moving Forward

    By Souad LazkaniNovember 28, 2020Updated:November 29, 2020
    Facebook WhatsApp Copy Link

    A lawsuit filed last year against 12 Lebanese banks alleged to knowingly provide material support to Hezbollah is now moving forward, threatening to unravel the secrets of Lebanon’s banking sector.

    The complaint, filed by over 350 families of American victims of terrorist attacks in Iraq between 2004 and 2011, claims that the 12 Lebanese banks helped Hezbollah access the United States’ financial system.

    It also claims that the banks knowingly assisted Hezbollah in its “illicit activities, including money laundering, sanctions evasion, arms export violations, drug trafficking, kidnapping for ransom, and terrorist financing.”

    Scandals will be uncovered in droves. Then politicians will shrug and keep bickering… (also, giving forensic audit situation, not sure “discovery” is a thing that can be done in Lebanon) https://t.co/k1D7Qa5jsQ

    — Mustapha Hamoui (@Beirutspring) November 27, 2020

    The banks involved in the lawsuit are:

    1. Société Générale De Banque Au Liban SAL (SGBL)
    2. Fransabank
    3. BLOM Bank
    4. MEAB Bank
    5. Byblos Bank
    6. Bank Audi
    7. Lebanon & Gulf Bank (LGB)
    8. Banque Libano-Francaise (BLF)
    9. Bank of Beirut
    10. Bank of Beirut and the Arab Countries (BBAC)
    11. Jammal Trust Bank (JTB)
    12. Fenicia Bank

    According to the U.S. Supreme Court, the banks can be subject to civil liability under
    the Anti-Terrorism Act which prohibits financing terrorism.

    Recently, however, the Association of Banks in Lebanon (ABL) slammed the lawsuit saying it was “devoid of credibility.”

    Earlier this year, the banks filed a joint reply calling for the dismissal of the case as they claim it baseless. The banks also cited similarities between this complaint and previously dismissed complaints against Lebanese banks.

    The suit, referred to as the Société Générale (SGBL) Case, was filed in the Brooklyn, NY federal district court by a law firm called Osen LLC.

    “We’re pleased that the Court has decided to allow the case to proceed and we’re hopeful that evidence ultimately collected and disclosed in this case will not only vindicate the plaintiffs’ specific claims against these defendants but will also empower those who seek to genuinely reform Lebanon’s banking system,” the firm told The961.

    Share. Facebook Twitter LinkedIn WhatsApp Reddit Email

    For You

    uae travel ban lebanon 961

    UAE Is Officially Removing The Travel Ban On Lebanon

    Joe Issa El-Khoury 961

    Who is Joe Issa El-Khoury, Lebanon’s New Minister of Industry

    Adel Nassar 961

    Who is Adel Nassar, Lebanon’s New Minister of Justice

    Nizar Hani 961

    Who is Nizar Hani, Lebanon’s New Minister of Agriculture

    Charles Hajj 961

    Who Is Charles Hajj, Lebanon’s New Minister of Telecommunications

    Nora Bayrakdarian 961

    Who is Nora Bayrakdarian, Lebanon’s New Minister of Youth and Sports

    shark tank Lebanon

    Shark Tank Is Officially Coming To Lebanon – Here’s How You Can Get A Chance To Pitch Your Idea

    lebanon jounieh cyprus by ferry 961

    You’ll Soon Be Able To Travel Between Lebanon & Cyprus By Ferry

    June 8, 2025

    20 Celebrities You Probably Didn’t Know Had Lebanese Roots

    April 22, 2019

    Lebanon’s Shawarma Is Going Viral in The Philippines

    April 21, 2019
    whish pay lebanon 961

    You Can Now Use Whish Pay At Shopify Stores

    June 13, 2025
    Lebanese boutiques

    25 Boutiques In Lebanon To Find Your Dream Evening Dress This Wedding Season

    June 9, 2024

    20 Typical Lebanese Slang Expressions

    April 21, 2020
    caracalla one thousand and one nights

    Caracalla Just Added More Dates For “One Thousand and One Nights” & You Def Don’t Want To Miss It!

    July 5, 2025

    How Mia Khalifa Became One Of The Most Outspoken Advocates For Lebanon

    August 13, 2020
    lebanese beer brands almaza beirut beer 961

    Lebanese Beer Brands Are Publicly Throwing Shade, And It’s Getting Frothy

    June 7, 2025
    961 Logo
    Facebook WhatsApp TikTok Instagram

    Popular Topics

    • Guides
    • Eat & Drink
    • Listicles
    • Lebanon News
    • Diaspora
    • Explained

    961

    • About
    • WhatsApp Channel
    • News WhatsApp Channel
    • Corrections Policy
    • Ownership & Funding

    Services

    • Advertise
    • Careers
    • App Waitlist
    • Contact Us
    • Newsletter
    961™ | All Rights Reserved ©2025
    • Privacy Policy
    • Terms

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.