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Lebanon Judge Freezes Assets of Five Banks and Members of Their Boards

A general view shows the headquarters of the Lebanese Blom Bank in Beirut, Lebanon July 9, 2018. (Reuters)
A general view shows the headquarters of the Lebanese Blom Bank in Beirut, Lebanon July 9, 2018. (Reuters)
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Lebanon Judge Freezes Assets of Five Banks and Members of Their Boards

A general view shows the headquarters of the Lebanese Blom Bank in Beirut, Lebanon July 9, 2018. (Reuters)
A general view shows the headquarters of the Lebanese Blom Bank in Beirut, Lebanon July 9, 2018. (Reuters)

A Lebanese judge froze the assets of five top banks and members of their boards while she investigates transactions they undertook with the country's central bank, a judicial document showed on Monday.

The asset freeze against Bank of Beirut, Bank Audi, SGBL, Blom Bank and Bankmed applies to properties, vehicles and shares in companies owned by the banks or the members of their boards.

She has not charged any of the parties mentioned with any crime.

Lebanon's banks association in statement said the decision by Judge Ghada Aoun was "illegal" and would further destabilize the country's banking system, already crippled by a financial meltdown that has seen most depositors locked out of their hard currency accounts.

Raya Hassan, chairman of the board of Bankmed, declined to comment, as did Blom Bank chairman Saad Azhari and a spokesperson for Bank Audi.

Bank of Beirut and SGBL did not immediately respond to requests for comment.

Aoun on Thursday issued travel bans against the heads of the boards of the five Lebanese banks as a precautionary measure while she carried out her probe, she told Reuters.

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Kabbashi: Sudan War Nearing End, Arms Proliferation Poses Major Threat

Shams al-Din Kabbashi, a member of Sudan’s Sovereign Council and deputy commander of the army, said his government has no objection to delivering aid to other states, provided guarantees are in place (Sudan News Agency)
Shams al-Din Kabbashi, a member of Sudan’s Sovereign Council and deputy commander of the army, said his government has no objection to delivering aid to other states, provided guarantees are in place (Sudan News Agency)
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Kabbashi: Sudan War Nearing End, Arms Proliferation Poses Major Threat

Shams al-Din Kabbashi, a member of Sudan’s Sovereign Council and deputy commander of the army, said his government has no objection to delivering aid to other states, provided guarantees are in place (Sudan News Agency)
Shams al-Din Kabbashi, a member of Sudan’s Sovereign Council and deputy commander of the army, said his government has no objection to delivering aid to other states, provided guarantees are in place (Sudan News Agency)

The war in Sudan is nearing its end, a top military official said on Saturday, warning that the widespread availability of weapons could pose one of the biggest threats to the country’s stability in the post-war period.
Shams al-Din Kabbashi, a member of Sudan’s Sovereign Council and deputy commander of the army, told state governors in the temporary capital of Port Sudan that arms proliferation is a “major danger awaiting the state.”
“The areas that have been retaken must be handed over to the police for administration,” Kabbashi said, stressing that civilian policing, not military control, should take over in recaptured territories.
He also pointed to the need to redeploy troops currently stationed at checkpoints and security outposts in liberated regions. “We need these forces on other frontlines,” he said.
Kabbashi described the rise in hate speech triggered by the conflict as “unacceptable” and warned that Sudan would face deep social challenges once the fighting stops.
According to Kabbashi, the Sudanese armed forces are in a strong position after initial setbacks at the start of the war, as the military seeks to shift focus to restoring internal security and supporting civil governance in liberated areas.
“The situation of the armed forces and supporting units is more than good,” said Kabbashi. “We were in a bad place at the beginning of the war — now we are more than fine.”
Kabbashi added that army chief General Abdel Fattah al-Burhan is highly focused on ensuring public safety across the country, calling security “a top priority, ahead of all other services.”
He warned, however, that Sudan faces deeper challenges beyond the battlefield. “The plot against Sudan is bigger than the militia we’re fighting — they are only the front,” Kabbashi said, referring to the paramilitary Rapid Support Forces (RSF) without naming them directly.
He pointed to rising crime, widespread weapons, and looting as major security threats that emerged during the war, saying state authorities would have a significant role to play in restoring order.
Kabbashi urged state governors to back police forces in their efforts to maintain law and order, emphasizing that police support is “urgently needed” during the current transitional phase.