Lebanese banks resume business after 2-week closure

Source: Xinhua| 2019-11-01 18:51:27|Editor: ZX
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BEIRUT, Nov. 1 (Xinhua) -- Lebanese banks resumed business on Friday after two-week closure amid nationwide protests, the National News Agency reported.

The Association of Banks in Lebanon (ABL) issued a statement calling upon banks to extend their working hours on Friday and Saturday to cater to a great number of Lebanese who need cash following two-week restricted bank services through ATM machines only.

Meanwhile, a number of protesters blocked on Friday the entrance to the ABL in Beirut's downtown, voicing their demands which include allowing limited income borrowers to pay their housing loans using the Lebanese pound, the restructuring of personal loans without paying high interest rates, and removing the Lebanese pound's peg against the U.S. dollar.

Security forces arrested five protesters while ABL called upon the Lebanese to behave in a responsible way in a bid to serve people after two weeks of paralysis in banks' operations.

Lebanon has witnessed in the past two weeks nationwide demonstrations against the government's policies and the absence of basic services in the country which led to the resignation of the cabinet.

Roads were blocked all over Lebanon and schools have closed their doors in the aftermath of the protests.

The Lebanese are currently expecting a new government which includes experts who are capable of implementing necessary reforms to save the country's deteriorating economy.