Prosecutor freezes assets of 20 Lebanese banks

The decision also prohibits the chairmen of the 20 banks, boards of directors and general managers from accessing these assets.
by Georgi Azar

5 March 2020 | 23:14

Source: by Annahar

  • by Georgi Azar
  • Source: Annahar
  • Last update: 5 March 2020 | 23:14

Police stand guard outside the Lebanese Association of Banks after protesters locked the main entrance during ongoing protests against the banks and the government, in Beirut, Lebanon, Nov. 1, 2019. (AP)

BEIRUT: Lebanon's financial prosecutor has decided to freeze the assets of 20 Lebanese banks as well as the properties of the banks' CEOs and board members, the National News Agency (NNA) said on Thursday.

The targeted banks are Blom Bank, Bank Audi, Fransabank, Byblos Bank, SGBL, Bank of Beirut, Bankmed, Banque Libano-Francais, Credit Libanais, Intercontinental Bank, First National Bank, Lebanon & Gulf Bank, BBAC, Cedrus Bank, MEAB, Federal Bank of Lebanon, BSL, Mawarid Bank, Lebanese Swiss Bank, Banque Saradar and Banque Misr. 

Ali Ibrahim informed the Directorate of Cadastre and Real Estate, the Real Estate Registration department, the Vehicle and Traffic department, the Central Bank, the Association of Banks in Lebanon and the Financial Market Authority of his decision.

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