Banks in Lebanon resume work after suspending strike, pending general assembly decision

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Banks in Lebanon are set to resume work from Monday to Friday, with a general assembly of the Association of Banks scheduled to take place later to decide whether to resume the strike if judicial proceedings against banks suspected of money laundering are not dropped by Judge Ghada Aoun.

The decision to suspend the strike came at the request of the caretaker Prime Minister Najib Mikati in order to secure the salaries and wages of the public sector and to provide more time for political and judicial efforts to address the crisis. It should be noted that both the banks and Prime Minister Mikati have emphasized that they do not interfere with the work of the judiciary.

There has been no comment from the government palace regarding the statement issued by the Supreme Judicial Council, which considered the call by Prime Minister Mikati and the Minister of the Interior for the Judicial Police not to support Judge Aoun as interference in the independence of the judiciary and a violation of the principle of separation of powers.

However, sources close to the Prime Minister expressed the hope that the judiciary would play its role in addressing any violations and practices that may be incorrect for some judges.

Meanwhile, sources from the Supreme Judicial Council repeated in a statement that their goal is to ensure the conditions for the regular functioning of the judiciary and that this can be achieved if violations are found through the Supreme Judicial Council, the Discriminatory Public Prosecution Office or the Judicial Inspection Authority.

Lebanon has been facing an economic crisis for the past few years, which has only worsened due to the COVID-19 pandemic. The country has been suffering from high inflation, a rapidly depreciating currency, and a shortage of foreign currency, which has made it difficult for people to access their savings and for businesses to operate.

The banking sector in Lebanon has been at the forefront of the crisis, with many banks accused of engaging in corrupt practices such as money laundering and embezzlement. In 2019, protests erupted across the country over the mismanagement of public funds and the perceived corruption of the political and financial elite.

Judge Ghada Aoun, a prominent judge in Lebanon, has been leading a crackdown on corruption and money laundering in the banking sector, and has recently charged several bank officials with corruption. However, her work has been controversial, with some accusing her of overstepping her authority and others accusing her of being too lenient on some individuals.

The Association of Banks in Lebanon had announced a strike in protest against Judge Aoun's actions.