BEIRUT: Lebanon’s Fransabank on Wednesday closed all of its branches in the country following a judicial order freezing its assets based on a lawsuit filed by a depositor, a Fransabank source told Reuters.
Lebanese banks have frozen most savers out of their hard currency deposits since a financial meltdown in 2019, but the controls were never formalized in law and have been challenged in courts.
The judicial order required Fransabank to reopen the account of Egyptian depositor Ayad Ibrahim and pay out his deposit in cash, or else the bank’s assets would be seized, his lawyer Rami Ollaik said.
The judge who issued the order and Ibrahim could not be reached for comment.
The Fransabank source said that following the order the bank would not be able to make any payments, including of salaries, because its assets have been frozen. The bank has roughly 50 branches, the source said.
“We closed because the order is on all the belongings of the bank, including the safes, at the tellers, where you can get the cash. I can’t get (cash), and I can’t receive,” the Fransabank source said.
Fransabank had issued Ibrahim a cheque for the value of his deposit and he was therefore no longer a client, the Fransabank source said, adding that he had signed for the cheque at a notary.
A spokesperson for United For Lebanon, an anti-corruption group that is representing Ibrahim in the case, said he had “signed for the cheque but with reservation.”
Lebanon’s Fransabank closes all branches after judicial order, source says
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Lebanon’s Fransabank closes all branches after judicial order, source says
- Lebanese banks have frozen most savers out of their hard currency deposits since a financial meltdown in 2019
- The judicial order required Fransabank to reopen the account of Egyptian depositor Ayad Ibrahim and pay out his deposit in cash
Two Tunisia columnists handed over three years in prison
- Mourad Zeghidi and Borhen Bsaies have already been in detention for almost two years
- They were due to be released in January 2025 but have remained in custody on charges of money laundering
TUNIS: Two prominent Tunisian columnists were sentenced on Thursday to three and a half years in prison each for money laundering and tax evasion, according to a relative and local media.
The two men, Mourad Zeghidi and Borhen Bsaies, have already been in detention for almost two years for statements considered critical of President Kais Saied’s government, made on radio, television programs and social media.
They were due to be released in January 2025 but have remained in custody on charges of money laundering and tax evasion.
“Three and a half years for Mourad and Borhen,” Zeghidi’s sister, Meriem Zeghidi Adda, wrote on Facebook on Thursday.
Since Saied’s power grab, which granted him sweeping powers on July 25, 2021, local and international NGOs have denounced a regression of rights and freedoms in Tunisia.
Dozens of opposition figures and civil society activists are being prosecuted under a presidential decree officially aimed at combatting “fake news” but subject to a very broad interpretation denounced by human rights defenders.
Others, including opposition leaders, have been sentenced to heavy prison terms in a mega-trial of “conspiracy against state security.”
In 2025, Tunisia fell 11 places in media watchdog Reporters Without Borders’ (RSF) World Press Freedom Index, dropping from 118th to 129th out of 180 countries.
