ABL Lauds Security Measures, Behavior of Clients, Employees

The Association of Banks in Lebanon on Tuesday lauded a security plan devised by the Interior Ministry and the Internal Security Forces to ensure the safety of bank employees amid the turbulent situations in the country.

A statement issued after the first day of banking operations which followed around a one-week strike by employees said ABL had contacted banks to “follow up on the developments after a long period of compulsory closure.”

“As a result of these contacts, it turned out that banks had served a relatively large number of clients, who showed appreciation of the temporary general instructions that ABL had provided bank employees with yesterday in order to overcome the current extraordinary circumstances,” ABL added.

It also thanked caretaker Interior Minister Raya al-Hassan and ISF chief Maj. Gen. Imad Othman for “their quick and effective response to the Association’s request that the appropriate security conditions be created in order to resume banking operations.”

“The security plan that has been put into effect since this morning has created a climate of general relief in the vicinity of banks, which reflected positively on employees’ performance and citizens’ cooperation with their banks,” ABL said.

Lebanese banks reopened to customers on Tuesday after a week-long strike during which bank employees refused to come to work, fearing for their security amid random capital controls that have angered clients.

On Monday, ABL declared formal controls, limiting withdrawals to $1,000 per week, and allowing transfers abroad only for “urgent matters.”

However, most banks on Tuesday were allowing depositors to withdraw only $500 from U.S. dollar accounts.