Since the onset of the financial crisis in 2019, demonstrators have repeatedly protested in front of the headquarters of the Association of Banks in Lebanon. (Credit: Ahmad Azakir)
Lebanon's banking association on Wednesday criticized what it described as "arbitrary and illegal measures" being taken against lenders, saying these threatened to "topple the banking sector".
Lebanon's Fransabank on Wednesday closed all of its branches after a judicial order freezing its assets, a Fransabank source told Reuters, in a legal dispute with a man seeking to unlock funds stuck in the Lebanese banking system.
Lebanese banks have frozen most savers out of their hard currency deposits since a financial meltdown in 2019, but the controls were never formalized in law and have been challenged in courts.
Lebanon's banking association on
Wednesday criticized what it described as "arbitrary and illegal
measures" being taken against lenders, saying these threatened
to "topple the banking sector".
Lebanon's Fransabank on Wednesday closed all of its branches
after a judicial order freezing its assets, a Fransabank
source told Reuters, in a legal dispute with a man
seeking to unlock funds stuck in the Lebanese banking system.
Lebanese banks have frozen most savers out of their hard
currency deposits since a financial meltdown in 2019, but the
controls were never formalized in law and have been challenged
in courts.
Humanitarian convoy reaches Rmeish, Ain Ibl, Dibil despite obstacles
