Banks Decide to Proceed with Lawsuit Against the Lebanese State

The meeting held yesterday, Tuesday, at the headquarters of the Association of Banks in Lebanon, concluded with an agreement to proceed with the lawsuit that 11 banks filed against the Lebanese state through the Central Bank of Lebanon. In this context, banking sources mention that the meeting revolved around two opinions: - The first, supporting the decision made by the State Council not to erase deposits and to continue its execution. - The second, to proceed with the complaint against the Lebanese state filed by 11 banks, where it has become clear that most banks will join it, in order to hold the Lebanese state accountable for the losses after all the plans presented did not hold it responsible. It was agreed to follow the second path, namely to file the complaint, especially since the timeframe allows the banks until early April to submit it.