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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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Baghdad Urges Washington to Prevent ‘Imminent’ Israeli Strikes

Sudani visiting a market in Baghdad on Thursday (Government media)
Sudani visiting a market in Baghdad on Thursday (Government media)
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Baghdad Urges Washington to Prevent ‘Imminent’ Israeli Strikes

Sudani visiting a market in Baghdad on Thursday (Government media)
Sudani visiting a market in Baghdad on Thursday (Government media)

Iraqi Prime Minister Mohammed Shia Al-Sudani on Thursday called on major powers to “exert greater efforts to end the war in Palestine and Lebanon.” Meanwhile, an Iraqi government official urged the United States to “prevent any attacks on the country,” referring to potential Israeli strikes.
During a phone conversation with Russian President Vladimir Putin, Al-Sudani stressed the importance of ensuring the conflict does not escalate “to a level that threatens regional and global stability.”
The Iraqi prime minister’s appeal comes amid reports suggesting that Israel may launch strikes on Iraq in retaliation for attacks by Iraqi armed factions targeting Israeli positions.
The Iraqi government is striving to assert its exclusive authority over weapons and war-related decisions. However, armed factions affiliated with the Axis of Resistance openly claim responsibility for near-daily rocket attacks on Israel. This has provided Israel with a justification for potentially targeting Iraqi territory, especially after it filed a complaint with the UN Security Council against six Iraqi factions and held Baghdad responsible for the attacks.
These factions have also openly declared their involvement in the ongoing conflict with Israel in Lebanon and Gaza. The Iraqi government has been unable to take decisive action to halt the activities of these factions, which many believe could soon expose Iraq to an Israeli strike.
According to media reports, Washington has warned Baghdad that Israeli airstrikes on Iraq are “imminent” unless the Iraqi government curtails attacks by Iranian-backed factions on Israel. The Times of Israel cited sources indicating that the United States has “exhausted all means of pressure on Israel” and urged Iraq to act swiftly to prevent such attacks.
Despite repeated assurances from the Iraqi government—including its recent adoption of 12 measures by the National Security Council to counter Israeli threats and complaints—the situation remains tense. These measures include monitoring Iraq’s western borders, preventing factions from launching attacks, and maintaining Iraq’s neutrality in the ongoing conflict.
On Wednesday, Abu Hussein Al-Hamidawi, Secretary-General of Kata’ib Hezbollah, made a striking statement on the role of resistance factions in the war and their commitment to the Unity of Fronts doctrine frequently mentioned by Axis of Resistance groups.
In an interview published by the faction’s media arm, Al-Hamidawi said: “The continuity of the Unity of Fronts concept depends on what the Lebanese Hezbollah decides.”
Al-Hamidawi also emphasized that resistance factions are constantly coordinating internally and with external partners such as Hezbollah, the Houthis, and Palestinian resistance leaders.
“We aim to ensure that the Palestinian people are not left alone and that the Unity of Fronts remains intact,” he stated.
Fadi Al-Shammari, a political advisor to Sudani, reiterated that Israel’s threats “are not new,” citing the recent complaint filed by Israel with the UN Security Council as part of its pattern of issuing threats.
In media statements, Al-Shammari reaffirmed the Iraqi government’s long-standing position: “The decision of war and peace lies solely with the Iraqi government.”
He noted that the factions’ attacks are being launched from areas outside Iraq’s borders, specifically from Syria. However, he stressed that the Iraqi government is working through its security and military agencies to prevent Iraq from becoming a battlefield for external or internal parties.
Al-Shammari also called on the United States to fulfill its responsibilities under the Strategic Framework Agreement and security pact with Iraq, emphasizing the need to deter and respond to any external attacks that threaten Iraq’s internal security.