The Association Of Banks In Lebanon Decided To Strike Again Due To Continued ‘Encroachments’ On Banks

The head of the Syndicate of Banks' employees in Lebanon, Assad Khoury, announced on Thursday, October 7, that the Association of Banks had decided to strike on Friday, due to the continued “encroachments” on banks.
Al-Akhbar

The head of the Syndicate of Banks’ employees in Lebanon, Assad Khoury, announced on Thursday, October 7, that the Association of Banks had decided to strike on Friday, due to the continued “encroachments” on banks.

Assad Khoury said to Anadolu Agency, “The association decided to close the doors of the banks on Friday, October 8, due to the continuation of the encroachments that have been going on for days until today on a number of bank branches in Lebanon.”

Khoury added that the ATM service will still be working to ensure the continuity of serving banks’ customers.

In this regard, the Lebanese Depositors Association warned that “the policy of strikes and closures will only increase depositors’ curse on the banks.”

It added via its official account on Twitter that when banks return to the opening they will face many incursions if there is no solution.

Last month, Lebanese banks closed their doors after at least seven branches were raided by angry depositors in a week, including five in one day.

They reopened on Monday after enhancing security measures. However, a new wave of bank raids occurred this week as desperate depositors sought access to their frozen savings.

Earlier on Thursday, October 7, two banks witnessed raids carried out by armed depositors to demand their withheld money, and each of them was able to recover part of their money.

Since 2019, the Lebanese have been suffering from an unprecedented and severe economic crisis, which has led to a record collapse in the value of the local currency against the dollar, and the ongoing banking crisis.

Lebanon’s banks impose restrictions on depositors’ money in foreign currencies, especially the dollar, and place harsh ceilings on the withdrawal of money.

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The Association Of Banks In Lebanon Decided To Strike Again Due To Continued 'Encroachments' On Banks

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