Efforts still ongoing to put end to banks strike

Although the banks' strike is ongoing, there are high-level efforts to put an end to it, particularly in light of the lira's unprecedented devaluation.

 

A collapse that the Banque du Liban (BDL) was powerless to stop since, according to its sources, any intervention to control the exchange rate necessitates banks opening their doors which is what Caretaker Prime Minister Najib Mikati is working on.

 

In contrast to efforts to find a resolution, the banks' legal dispute with several judges, including Judge Ghada Aoun, continues. 

 

Information suggests two ways to resolve this conflict: the first is to have Public Prosecutor Ghassan Oweidat remove the banks' case from Judge Aoun, but there is no green light for this move.

 

As for the second solution, Judge Aoun could charge the banks with information concealment crimes rather than money laundering to guarantee business continuity between Lebanese and correspondent banks abroad.

 

Which of these two ideas will be put into practice?

 

The answer depends on the developments that next week will bring.