Lebanese banks plan to strike in response to court orders

Association said Lebanese consumption The strike is a warning against what she called it "arbitrary" Some judicial decisions, referring to orders under which the assets of seven banks have been frozen since March 14 and six of their executives have been banned from travel.

وقال Prime Minister Najib Mikati The actions taken by some judges increased tension, and the prosecutor asked "Take appropriate action".

Lebanese banks have been paralyzed since the collapse of the financial system in 2019 under the weight of huge public debts arising from decades of corruption and government waste, which led to depriving depositors of their savings. This is the most severe crisis that has destabilized Lebanon since the 1975-1990 civil war.

Judge Ghada Aoun ordered the freezing of the assets of six banks while she was investigating the transactions between her and the Central Bank.

The seventh is FransabankAnother judge ordered a freeze on his assets in a ruling in favor of a man who filed a lawsuit asking the bank to reopen his account and pay his deposit in cash..

Fransabank said Thursday that the matter means that it cannot disburse funds, including the salaries of public sector employees, as its coffers have been closed..

And the Lebanese failure to pass a capital control law since the start of the crisis allowed banks to impose informal controls that do not deal depositors Both. Banks say they demand such a law.

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Association said Lebanese consumption The strike is a warning against what it called “arbitrary” some judicial decisions, in reference to orders under which the assets of seven banks have been frozen since March 14 and six of their executives have been banned from travel..

وقال Prime Minister Najib Mikati The actions taken by some judges added to the tension, and asked the public prosecutor to “take appropriate measures.”“.

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Lebanese banks have been paralyzed since the collapse of the financial system in 2019 under the weight of huge public debts arising from decades of corruption and government waste, which led to depriving depositors of their savings. This is the most severe crisis that has destabilized Lebanon since the 1975-1990 civil war.

Judge Ghada Aoun ordered the freezing of the assets of six banks while she was investigating the transactions between her and the Central Bank.

The seventh is FransabankAnother judge ordered a freeze on his assets in a ruling in favor of a man who filed a lawsuit asking the bank to reopen his account and pay his deposit in cash..

Fransabank said Thursday that the matter means that it cannot disburse funds, including the salaries of public sector employees, as its coffers have been closed..

And the Lebanese failure to pass a capital control law since the start of the crisis allowed banks to impose informal controls that do not deal depositors Both. Banks say they demand such a law.

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