Lebanon. Bankers Association announces general strike

Today, Friday, the Association of Lebanese Banks announced that banks will go on strike from Monday, August 8, due to the increase in “harmful and populist sentiment to the detriment of the economy.”

The association said in a statement: “This position came as a surprise to some of those responsible for enforcing the law and the content of its provisions, as if the application of the law had become optional for them, not obligatory, and when these references take drastic measures that affect freedoms and people’s dignity, damage their reputation and expose local banks’ relationships with correspondent banks, serious damage occurs. The damage is done not only to those who are in charge of banks, but primarily to depositors.”

The association considered that “these abnormal situations, which the banks have tried to deal with as flexibly as possible, even at their expense, have reached a degree that is no longer acceptable, and they can no longer tolerate harmful and populist situations at their own expense and at the expense of economy”, urging everyone to take current conditions seriously and responsibly in order to move towards a real recovery.

Source: LBKI

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