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Beirut.com 18 Mar 2022

Breaking: Banks In Lebanon Announce Two Day Strike

The Association of Banks in Lebanon has announced a two day strike (Monday and Tuesday) in protest of recent judicial orders imposed on some local banks.

This comes two days after Fransabank closed all of its branches after a judicial order resulted in the freezing of the bank’s assets. Fransabank said it would not reopen until the order was reversed.

Prime Minister Mikati commented on the judicial orders, calling them “dangerous” and saying that it is being done in a “show off manner”.

Last week, five CEOs of Lebanese banks were placed on no-fly lists by judge Ghada Aoun who issued a similar decision yesterday to extend the same to Credit Bank and its chairman, Tarek Khalifeh.

Aoun also placed an asset freeze on the bank, preventing them from selling any shares, assets, or properties.