Lebanon's banks reopen after two-week closure, security continues to open roads

Beirut- Debriefer
2019-11-02 | Since 8 Month

On Friday, Lebanese Banks resumed their work after a two- weeks closure due to protests in the country. As well as , the roads were reopend by Security forces.

According to Reuters "Lebanon's banks have reopened after two weeks of unprecedented protests that prompted the resignation of Prime Minister Saad Hariri"

Banks have seen crowds with dozens of people waiting at some branches and customers encountered new curbs on transfers abroad and withdrawals from U.S. dollar accounts, though there were no formal capital controls.

"Lebanese banks will resume normal operations and receive customers on Friday" the banking association said, ending a two-week-long closure caused by massive protests against the country’s ruling politicians , despite what it described as a non-stabilization of the situation, stressing that they will provide urgent and basic needs, including payment of salaries and wages.

Al-Jazeera correspondent reported on Friday morning of  four activists entered the headquarters of the Association of Banks in Lebanon in downtown Beirut and locked themselves inside to protest banking policies, as well as the increasing dollarisation of some sectors of the economy.

The four were arrested, with a fifth protester outside the building being beaten and later arrested., condemning the banking policy in Lebanon.

The unprecedented protest movement, which began on 17 October, has caused complete paralysis in the country, including the closure of banks, schools and universities and the blocking of major roads in all areas.

Al-Jazeera correspondent reported that the Lebanese security forces are working to reopen roads cut at some areas by protesters at night.

He added that all roads in Beirut are open, as well as between the capital and the rest of the provinces, while a limited number of roads are still blocked in the northern and Bekaa governorates.

 The protesters had closed a number of roads after President Michel Aoun’s speech.

yesterday evening , which was met with disdain by demonstrators as he described the crisis experienced by the country as articulated .

"Ministers should be selected based on their qualifications and experience, not their political loyalties or appeasement of leaders," Aoun said in his speech, which came on the third anniversary of his presidency .

He pointed out that the formation of governments in Lebanon is subjected to many political considerations and balances, and that may be the cause of repeated failure.

Prime Minster Saad Hariri on Tuesday submitted the resignation of his cabinet, "in response to the will of many Lebanese who took to the streets to demand change," but Aoun asked him to stay on in a caretaking capacity until a new cabinet could be formed , while protesters asked to accelerate the formation of a technocratic government and an end to the sectarian system wherein posts are allocated according to religion.

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