March 5, 2020 / 8:54 PM / 3 months ago

Lebanon state prosecutor blocks order to freeze bank assets

BEIRUT, March 5 (Reuters) - Lebanon’s public prosecutor suspended on Thursday an order to freeze the assets of 20 local banks, warning it would plunge the country and its financial sector into chaos, according to a copy of the decision seen by Reuters.

The memo by State Prosecutor Ghassan Oueidat said international financial authorities had intended to halt dealings with Lebanese banks, without giving further details.

A Lebanese financial prosecutor had issued an order to freeze the assets of 20 banks, their top bosses and board members earlier on Thursday. (Reporting by Laila Bassam Writing by Ellen Francis Editing by Chris Reese)

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