March 5, 2020 / 8:57 PM / a month ago

Lebanon state prosecutor blocks order to freeze bank assets

BEIRUT (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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