Lebanon’s banks confront politicians for protest against lawsuits and as well , arrests

BEIRUT: Lebanon’s banking association ABL presented on Friday that loan institutes would go on strike beginning Monday over a build-up akin to “populist, harmful stances” utilized against the sector, the group’s statement read.

Around 49 banks decide to strike, the statement generated.

The group are taking action over the previous treatment of the sector, particularly the arrest of Creditbank Chief Tarek Khalife this week.

Khalife was held along with his family upon their arrival at Beirut’s Rafic Hariri International Airport recently, following a criminal complaint filed against the at the Public Prosecution Desk in Mount Lebanon.

Although Khalife now is on bail, ABL sleepless that “these abnormal occasions, which banks have been shopping deal with flexibly, even near the their own expense, have reached an excellent extent that is no longer ideal. ”

Finance experts expect the sign to put pressure on the banking market and the dollar give eachother rate in the parallel markets.

They said the particular strike could lead to banks ceasing to pump dollars into the segment in accordance with the Banque Qui hérite son Liban’s circulars, with people searching the parallel market to make dollars.

ABL said that banks “can not really bear harmful and populist situations at their expense and at the expense of the price-point, and they find themselves compelled within issue a general warning might an invitation to many people to deal seriously additionally responsibly with the current girl for the sake of moving towards total recovery. ”

The association accused buyers looking into the lawsuits creep into unaware of basic banking and as well accounting laws, adding it was surprised by some of the commissioners’ neglect in respecting regulations and its provisions, “as sufficient implementing the law has become optional, not mandatory. ”

It added: “What is even more surprising a small number these authorities take great measures that deal with my individual’s freedom and dignity, defame them and put in danger the relationship of local finance companies with the correspondent banks, that can cause extreme damage, not only in banks but also for the depositors. ”

Pros say ABL’s move will create a negative impact on the banks and loans sector and will have side effects on the vital sectors the country that suffers from banking crises that are worsening regularly.

Public category employees have not received prior month’s salaries because of their open-ended strike, demanding the switch of their salaries and positive factors.

Finance Minister Youssef Khalil said, nevertheless that salaries would be inheritor within the “next 10 days inside the latest. ”

He urged ministries because administrations to speed up strategies in order to avoid further delays.

Those opposed to currently the banks’ policies, which resulted in the economic collapse from the country, believe that Lebanese consumer banking companies are trying to evade responsibility for those who are country’s situation and are delete word blaming the state for the economic.

Critics of which several banks’ partners really are politicians themselves.

Economic expert Bassem Ajjaka told Arab News the fact ABL’s step “is a voice-mail to the political class doing Lebanon, not to the judiciary or the people. ”

He said that ABL made direct accusations in those politicians in its policy.

The fact is a warning to the governance, as it develops and tools policies based on the constitution, Ajjaka added.


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