Last week, the Lebanese authorities seized all the assets of Fransabank, one of the biggest banks in Lebanon, after Judge Mariana Anani ruled in favor of a depositor suing the bank over his deposited money.
All the bank’s assets in Hamra and Ashrafieh were seized for the bank to comply with the judge’s ruling. Fransabank closed down its branches and decided to file an appeal.
The Association of Banks in Lebanon went on a 2-day strike, Monday and Tuesday, to pressure the public opinion and the judiciary.
On Tuesday, Fransabank won the appeal against the freezing of its assets. The court also ruled that the bank can now unseal some of its vaults.
The bank sector in Lebanon, which has enforced tremendous hardships on the population with its capital control for over 2 years, has been suddenly the target of a series of judiciary actions.