Lebanese bank closes over 30 British-held accounts after UK ruling-depositors’ group

A worker cleans the logo of Bank Audi in Beirut, Lebanon. (Reuters)
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Updated 05 March 2022
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Lebanese bank closes over 30 British-held accounts after UK ruling-depositors’ group

  • A Bank Audi official told Reuters the bank was "asking that the UK residents apply the terms applicable to anyone opening a new account: no international transfers, no cash withdrawals"
  • Since the UK order, Bank Audi, one of Lebanon's biggest, has told dozens of clients their accounts had been closed

BEIRUT: Lebanon’s Bank Audi has closed more than 30 accounts belonging to UK nationals or their close relatives since a London court ordered it to transfer funds stuck in the crisis-hit banking sector to a British client, a depositors’ union said.
The Feb. 28 order requiring Bank Audi and its peer SGBL to transfer $4 million is the first UK ruling obliging Lebanese banks to transfer dollars out of the paralyzed financial system, potentially encouraging similar claims.
A Bank Audi official told Reuters the bank was “asking that the UK residents apply the terms applicable to anyone opening a new account: no international transfers, no cash withdrawals.”
“If this is not accepted, then the bank has no choice but to close the account.”
More than $100 billion remains stuck in a banking system paralyzed since 2019, when the economy collapsed due to decades of unsustainable state spending, corruption and waste.
In the absence of formal capital controls, banks have largely blocked dollar withdrawals and transfers abroad, sparking numerous legal challenges, with mixed results.
Since the UK order, Bank Audi, one of Lebanon’s biggest, has told dozens of clients their accounts had been closed and a cheque issued for the balance at a notary public, lawyer Dina Abou Zour of the Depositors Union told Reuters.
They were told the accounts could be reopened if they signed a form waiving the right to make international transfers or to withdraw dollars in Lebanon, and accept that a cheque was due payment of the balance. Abou Zour said the total amounts involved were in the tens of millions of dollars.
Banks have already closed many dollar accounts by issuing cheques which cannot be cashed and instead change hands in the market, currently at about a quarter of their face value.
“FAILING ECONOMY“
Bank Audi has said it intends to comply with the UK order but will consider its options on an appeal.
British passport holder Maliha Badr Raydan said she got a call from a Bank Audi employee on Monday saying her account had been closed and a cheque issued for the balance. A second UK citizen said the bank told him the same on Wednesday.
“They said it’s because I have British passport,” Raydan said, adding that money had been earmarked for the education of her two children after the death of her husband.
She was told she could open a new account if she signed a form waiving some of her rights. She declined to do so.
“I didn’t steal this money, I did nothing wrong, it’s the labor of my late husband over all these years and the future of my children and the other people I support.”
A copy of the form seen by Reuters sets terms for opening new accounts, including accepting that only Beirut courts have jurisdiction in any legal dispute.
The Bank Audi official said the bank had not asked clients to waive the right to bring lawsuits.
Bank Audi says the UK order will lead to unequal treatment among depositors, with wealthy savers who are UK residents able to get all their funds at the expense of others who cannot bring such cases.
Many Lebanese have protested against unfair treatment by banks throughout the crisis, with influential clients able to make withdrawals and transfers abroad and ordinary people unable to send even small sums to children studying abroad, for example. Banks have been calling for a capital control law.
A British embassy spokesperson said: “This unfortunate situation is symptomatic of Lebanon’s failing economy and underlines the urgency of Lebanon’s government adopting comprehensive economic reforms.”


Israel PM says bodies of two hostages retrieved from Gaza

Updated 54 min 41 sec ago
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Israel PM says bodies of two hostages retrieved from Gaza

  • The bodies were of Judy Weinstein-Haggai and Gad Haggai from Kibbutz Nir Oz

JERUSALEM: Israeli Prime Minister Benjamin Netanyahu said on Thursday the bodies of two Israelis killed in Hamas’s October 7, 2023 attack and held in Gaza had been returned to Israel.

“In a special operation by the (security agency) and the (military) in the Gaza Strip, the bodies of two of our hostages held by the murderous terrorist organization Hamas were returned to Israel: Judy Weinstein-Haggai and Gad

Haggai from Kibbutz Nir Oz, may their memory be blessed,” Netanyahu said in a statement. “Judy and Gad were murdered on October 7 and abducted to the Gaza Strip,” he added.


UAE, Egypt leaders renew call for Gaza ceasefire

Updated 05 June 2025
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UAE, Egypt leaders renew call for Gaza ceasefire

  • The two leaders stressed “the importance of intensifying efforts to achieve a ceasefire” in Gaza

DUBAI: UAE’s Sheikh Mohamed bin Zayed Al-Nahyan and Egypt’s Abdel Fattah El-Sisi on Wednesday reiterated the call for a ceasefire in the Gaza Strip during their meeting in Abu Dhabi.

During the two leaders’ talks at Qasr Al-Shati in Abu Dhabi, they stressed “the importance of intensifying efforts to achieve a ceasefire” in Gaza and working “towards a clear political horizon for a just and comprehensive peace based on the two-state solution.”

The US earlier vetoed a UN Security Council resolution calling for an immediate truce in the besieged enclave, the release of all hostages held by Hamas, and unhampered delivery of humanitarian supplies territory’s starving population.

Sheikh Mohamed and Sisi, during their high-level talks, also discussed ways to further strengthen bilateral relations between the two countries “particularly those that advance their shared development goals and serve the mutual interests of their peoples.”

They also reviewed regional and international issues as well as recent developments particularly aimed at restoring security and stability in the Middle East region.


Activist Gaza aid boat slams Israel ‘threat’

Updated 05 June 2025
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Activist Gaza aid boat slams Israel ‘threat’

ROME: International activists seeking to sail an aid boat to Gaza condemned Wednesday what they called Israel’s threats and “declared intent to attack” their vessel as it crosses the Mediterranean.
Israel’s military said Tuesday it was ready to “protect” the country’s seas, after the vessel — the Madleen, sailed by the Freedom Flotilla Coalition — left Sicily on Sunday carrying around a dozen people, including environmental activist Greta Thunberg.
“The navy operates day and night to protect Israel’s maritime space and borders at sea,” army spokesman Brig. Gen. Effie Defrin said.
Asked about the aid vessel, he said: “For this case as well, we are prepared.”
He added: “We have gained experience in recent years, and we will act accordingly.”
In a statement on Wednesday, the activist coalition said it “strongly condemns Israel’s declared intent to attack Madleen,” calling it a “threat.”
“Madleen carries humanitarian aid and international human rights defenders in direct challenge to Israel’s illegal, decades-long blockade, and ongoing genocide” in Gaza, it said.
Israel has come under increasing international criticism over the dire humanitarian situation in the Palestinian territory, where the United Nations warned in May that the entire population was at risk of famine.
The Freedom Flotilla Coalition, launched in 2010, is an international movement supporting Palestinians, combining humanitarian aid with political protest against the blockade on Gaza.
The Madleen is a small sailboat reportedly carrying fruit juices, milk, rice, tinned food and protein bars.
In early May, the Freedom Flotilla ship Conscience was damaged in international waters off Malta as it headed to Gaza, with the activists saying they suspected an Israeli drone attack.
The coalition said that on Tuesday evening, off the coast of the Greek island of Crete, the Madleen “was approached and circled by a drone, followed, several hours later by two additional drones.”
It said it was later informed these were surveillance drones operated by the Greek coast guard, EU border agency Frontex or both.
Israel recently eased a more than two-month blockade on war-ravaged Gaza, but the aid community has urged it to allow in more food, faster.
 


IAEA head in Damascus to discuss nuclear power

Updated 04 June 2025
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IAEA head in Damascus to discuss nuclear power

  • The IAEA has urged Syria repeatedly to cooperate fully with the agency in connection to a suspected nuclear reactor at the Deir Ezzor desert site

DAMASCUS: UN nuclear watchdog head Rafael Grossi said Wednesday his agency and Syrian authorities would begin “exploring the possibility of nuclear power,” on his first visit to Damascus since the ouster of Bashar Assad.
The International Atomic Energy Agency (IAEA) has repeatedly been at loggerheads with Syria in the past over what it says are “unresolved issues” regarding suspected nuclear activities.
On his visit, the IAEA chief met with Syrian President Ahmed Al-Sharaa and Foreign Minister Asaad Al-Shaibani.
“Honoured to meet Syrian President Ahmed Al-Sharaa in Damascus. I recognize his courage in cooperating with full transparency to close a chapter of Syria’s past that diverted resources necessary for development,” Grossi said in a post on X.
He said the two sides “will also begin exploring the possibility of nuclear power in Syria.”
“Our cooperation is key to closing outstanding issues and focusing on the much needed help IAEA can provide Syria in health and agriculture,” he added.
The IAEA has urged Syria repeatedly to cooperate fully with the agency in connection to a suspected nuclear reactor at the Deir Ezzor desert site.
Israel in 2018 admitted carrying out a top-secret air raid in 2007 against what it said was a nuclear reactor under construction at the site in eastern Syria.
Syria had denied it was building a nuclear reactor.
Grossi visited Damascus in March last year, meeting then president Assad who was overthrown in December after nearly 14 years of civil war.
Grossi told an IAEA Board of Governors meeting in March this year that he had requested Syria’s cooperation to “fulfil our obligation to verify nuclear material and facilities” and to “address unresolved issues.”
“Clarifying these issues remains essential to Syria demonstrating its commitment to nuclear non-proliferation and international peace and security,” he said at the time.


Sudan’s former premier Hamdok says recent military gains won’t end the war

Updated 04 June 2025
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Sudan’s former premier Hamdok says recent military gains won’t end the war

MARRAKECH: Sudan’s former prime minister on Wednesday dismissed the military’s moves to form a new government as “fake,” saying its recent victories in recapturing the capital Khartoum and other territory will not end the country’s two-year civil war.

Abdalla Hamdok said no military victory, in Khartoum or elsewhere, could end the war that has killed tens of thousands and driven millions from their homes.

“Whether Khartoum is captured or not captured, it’s irrelevant,” Hamdok said on the sidelines of the Mo Ibrahim Foundation’s governance conference in Morocco. 

“There is no military solution to this. No side will be able to have outright victory.”

Hamdok became Sudan’s first civilian prime minister after decades of military rule in 2019, trying to lead a democratic transition. He resigned in January 2022 after a turbulent stretch in which he was ousted in a coup and briefly reinstated amid international pressure.

The following year, warring generals plunged the country into civil war. Sudan today bears the grim distinction of being home to some of the world’s worst humanitarian crises.

Fighting between the army and the paramilitary Rapid Support Forces has left at least 24,000 dead, though many believe the true toll is far worse.

Both sides stand accused of war crimes. 

The RSF, with roots in Darfur’s notorious Janjaweed militia, has been accused of carrying out genocide. The army is accused of unleashing chemical weapons and targeting civilians where they live.

The war has driven about 13 million people from their homes, including 4 million who have crossed into neighboring countries. Famine is setting in and cholera is sweeping through.

The military recaptured the Khartoum area from the RSF in March, as well as some surrounding territory. Army chief Gen. Abdel-Fattah Al-Burhan has framed the advances as a major turning point in the conflict.

Last month, he appointed a new prime minister, Kamil Al-Taib Idris, for the first time since the war began, tasked with forming a new government. But the fighting has continued. 

The RSF has regrouped in its stronghold in Darfur and made advances elsewhere, including in Kordofan.

Hamdok, a 69-year-old former economist who now leads a civilian coalition from exile, called the idea that the conflict was drawing down “total nonsense.” The idea that reconstruction can begin in Khartoum while fighting rages elsewhere is “absolutely ridiculous,” he said.

“Any attempt at creating a government in Sudan today is fake. It is irrelevant,” he said, arguing that lasting peace can’t be secured without addressing the root causes of the war.

Hamdok said a ceasefire and a credible process to restore democratic, civilian rule would need to confront Sudan’s deep inequalities, including uneven development, issues among different identity groups and questions about the role of religion in government.

“Trusting the soldiers to bring democracy is a false pretense,” he added.

Though rooted in longstanding divisions, the war has been supercharged by foreign powers accused of arming both sides.

Pro-democracy groups, including Hamdok’s Somoud coalition, have condemned atrocities committed by both the army and the RSF.

“What we would like to see is anybody who is supplying arms to any side to stop,” he said.