|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Business & Economy (Click here for more)

Banks in Lebanon to Reopen after Strike over Security Fears

BEIRUT – After a week-long strike over security fears, banks in Lebanon will reopen as anti-government protests entered a second month, an employees’ union announced on Monday.

In the wake of the restrictions imposed on cash withdrawal, especially in US dollars, customers became more aggressive with the banking sector’s employees, the union said.

Employees went on strike just a few days after resuming operations, which had been halted for a couple of weeks due to the anti-government protests that first erupted on 17 October.

George al-Hajj, chairman of Lebanon’s Federation of Syndicates of Bank Employees, said: “After establishing a security plan, we do not feel necessary to stop the work in the banks.”

Measures included the reinforcement of the security forces’ presence around banks after police guaranteed employees will be well-protected, the union said in a statement.

Al-Hajj’s remarks came after a decision taken by the Association of Banks to limit cash withdrawals to $1,000 per week.

The association imposed restrictions on the current accounts earlier in the day as “temporary measures,” with the aim of “facilitating the daily work of employees in the current conditions of the country and taking into account the interests of customers,” it said in a statement.

US dollar is important in Lebanon as most products are imported and paid for in dollars.

He called on the Lebanese to use the local currency not dollars in a bid to ease the economic crisis the country has gone through.

Lebanon is a heavily indebted country, with bond credit rating business agencies downgrading its ratings.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2020 © All rights reserved