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Lebanese judge bans directors of 5 largest banks from travel

BEIRUT (AP) — A Lebanese judge has imposed travel bans on the heads of the country’s five largest banks over suspicions related to a possible transfer of billions of dollars abroad during the nation’s economic meltdown. The state-run National News Agency gave no details about the decision by an investigating judge for the Mount Lebanon district. Local TV stations said the move was precautionary as auditors look into transfers by the banks worth $5 billion. Lebanese banks have imposed informal capital controls since the economic crisis began in October 2019 after decades of corruption and mismanagement by the country’s political class.  

Article Topic Follows: AP National Business

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The Associated Press


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