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Banks in Lebanon Under Attack: Urgent Measures Needed to Preserve Depositors’ Rights

The Association of Banks indicated that, “Once again, banks are being targeted by a wave of attacks on their branches and employees, at a stage that is the most dangerous in Lebanon’s history.”

And the association pointed out, “Yesterday, news was spread about the banks’ intention to close their branches, so the banks denied them, out of defiance of the interests of depositors and with the aim of ensuring the continuity of their services to them. It was only that the attacks continued as if they were systematic to push the banks to close. In addition to the leniency of the state and its institutions in dealing with The aggressors, despite their threat to the lives of the employees, encourage the aggressors to continue with their actions, as if what is required is to close the banks for an indefinite period.

And she considered that “this is not the way to deal with systemic crises, which the state was one of the first to cause, and this is not how depositors recover money that has been squandered by wrong policies over the years.”

She added, “Banks warn that, with the attacks they are subjected to, especially what their employees and customers inside the branches are exposed to, they cannot continue to continue their business as if nothing had happened. Therefore, banks will be forced to return to previous regulatory measures, if the attacks on them do not stop, This is to avoid unforeseen consequences.”

And she continued, “Remains prudence and passing the necessary laws that ensure preserving the rights of depositors is the only way to a successful solution.”

2023-07-18 13:47:43
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