BEIRUT – The Association of Banks in Lebanon (ABL) announced in a statement that the banking sector would go on strike Monday in protest of what the association said was “populist, harmful stances” which will effectively prevent depositors from accessing funds and other services.
Banks will reopen on Wednesday as per a new statement from the ABL, Beirut Today reported.
The ABL said in its statement that banks “can no longer bear harmful and populist situations at their expense and at the expense of the economy,” and they find themselves “compelled to issue a general warning that is an invitation to everyone to deal seriously and responsibly with the current situation for the sake of moving towards real recovery.”
ABL added that the group was acting over not only the recent treatment of the sector, including lawsuits by depositors, and by what the ABL said is judicial bias, particularly after the arrest of the head of Lebanon’s CreditBank, Tarek Khalife, this week.
The bank chairman was detained at the airport upon entering Lebanon for nonpayment of the institution of interest on preferred shares.
Khalife had not responded to earlier judicial summonses, a banking source said.
Discussion about this post