ECONOMY

Lebanon’s banks closed for two more days

Police stand guard outside the building of the Lebanese Association of Banks in Beirut after anti-government protesters locked the main entrance by a chain and lock on Friday. (Photo: AP)

Authorities in Lebanon have closed the country’s banks for two extra days over the weekend amid deepening turmoil and public anxiety over liquidity and sustained anti-government protests.

The banks will be closed on both Saturday and Monday, along with the regular Sunday closure.

Officials say this will allow people to celebrate Prophet Mohammad’s birthday, which is set for Monday in Lebanon.

Earlier, banks were closed for two weeks amid nationwide protests calling for the government to resign.

After reopening last week, individual banks imposed irregular capital controls to protect deposits and prevent a run on the banks.

Meanwhile nationwide protests continued on Saturday in most of the cities in Lebanon.

In Beirut a group of protesters gathered outside the foreign ministry building calling for the resignation of corrupt politicians.

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Last Update: Saturday, 9 November 2019 KSA 15:53 - GMT 12:53
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