Tensions have resurfaced between the financial sector and the judiciary, with the Association of Banks announcing a strike on Monday, while planning to revisit the issue on Wednesday. However, media reports indicate that the association may discuss whether to proceed with the strike today, suggesting that divisions among its members or communications with them may have led to delaying the decision.
Economic expert Professor Jassim Ajaka pointed out that "the move came in response to recent judicial measures taken against banks. They accuse the government of intervening through the judiciary." The formal decision to investigate the matter on Wednesday is intended to allow communications to take place in order to find solutions.
In an interview with the electronic newspaper "Al-Anbaa," he noted that "the banking sector views itself as targeted by the government policies implemented by both the current and previous councils of ministers. However, its actions have serious repercussions on the economy, as salaries for public and private sector employees are paid through banks, which will be threatened during the strike, halting financial operations and stopping commercial transactions with foreign banks for imports. Who can guarantee the exchange rate of the dollar during a cessation of liquidity?"
He emphasized that "the banking sector considers itself targeted, and therefore it is necessary to engage with it calmly and rationally, away from the current chaos, because ultimately banks are the ones that safeguard people's deposits. The danger lies in the potential for escalation and an open-ended strike."
The conflict is likely to escalate further, and it is intertwined with politicized judicial measures being imposed by some, as if the country is in the midst of a theatrical performance. What is needed is a unified response to halt the collapse, initiate reforms, and restore political order in the country; otherwise, it will not be easy to predict the worst-case scenario the country may face.
