SAWT BEIRUT INTERNATIONAL

| 2 October 2022, Sunday |

Banks are closed until further notice

After a series of raids on banks in Beirut and the regions, Lebanon has entered a general strike since last Monday, in protest against what happened and in order to take the necessary regulatory measures, according to what the Association of Banks announced in a statement. Movement in front of the banks seemed completely paralyzed, and all branches adhered to the strike.

The question is how long this closure will last? Will the banks obtain the required guarantees before the strike ends?

For its part, the Association of Banks in Lebanon issued a statement, on Wednesday, announcing the continuation of the strike in banks at the present time, without specifying a date for its end.
As a result of the intensive contacts made by the association with the concerned authorities, and because the risks still befall bank employees and their customers who are inside the branches, and in light of the continuation of the inciting atmosphere behind these risks and threats, the banks will forcibly keep their doors closed at the same time. The present situation, especially in the absence of any measures or even assurances from the state and all security authorities, in order to secure a safe environment for work.

If the strike continues until further notice, this closure will lead to several problems and exacerbate the crisis.

And between the right of depositors to get their money… and the insistence of the banks to ensure the security of their employees and branches before returning to work… It seems remarkable that the authority, even if it is in the stage of conducting business, ignores dealing with this sensitive issue, despite its impact on the level of the financial movement in the country, and the ability of the economic sectors to import and export, in addition to its repercussions on the level of the exchange rate, in addition to putting employees’ salaries in jeopardy.

 

    Source:
  • Sawt Beirut International