Lebanon banks to reopen on Friday after two-week closure

Lebanon banks to open doors to public after two-week closure
2 min read
30 October, 2019
Banks in Lebanon will resume operations on Friday after being shut down for two weeks.
Lebanese have been protesting for two weeks [Getty]
Lebanese banks will resume operations after two weeks of closure amid nationwide protests against corruption, it was reported on Wednesday.

Lebanon's country's association of banks released a statement saying the banks will resume operations on Friday.

This comes a day after Lebanon's protesters responded with outrage to remarks made by the country's central bank chief after he warned of a looming economic collapse due to anti-government protests.

Activists have taken part in strikes and protests across Lebanon against bad governence, which has kept the country in lockdown for almost two weeks.

Speaking to CNN on Monday, central bank governer Riad Salameh said it was "a matter of days" before the country succumbed to economic collapse due to the protests.

He added that the "real asset" to Lebanon's economy is the Lebanese diaspora, which he said needed confidence in the economy in order to continue to send funds back home.

Salameh called for an immediate solution to the political crisis, criticising the lack of progress made by Prime Minister Saad Hariri.

On Tuesday, Lebanon's banks will have been closed for 12 consecutive days, amid a dollar shortage which has caused an economic shutdown.

Protesters, however, were quick to point out that the country's financial situation was a large part of the reason that had driven them to the streets.

As one pointed out, Salameh had only in August called Lebanon's economic situation "top".