Five banks in Lebanon held up by depositors demanding access to savings

Five banks in Lebanon held up by depositors demanding access to savings

Five Lebanese banks were held up by depositors seeking access to their own money frozen in the banking system on Friday, in a spiralling spate of holdups this week spurred by frustration over a financial implosion with no end in sight.

In one of the incidents an armed man entered a bank in the south Lebanese city of Ghazieh and poured gasoline on the floor of the building, threatening to burn the branch if he could not access his money, state news agency NNA reported.

He was able to retrieve $19,200 from the bank and handed it to someone who was waiting for him outside the bank, before handing himself in to authorities, NNA said.

Lebanon’s banking association urged authorities on Thursday to hold accountable those engaging in “verbal and physical attacks” on banks and said lenders themselves would not be lenient.

Banks said they will be closing on Monday, Tuesday, and Wednesday as a “precautionary measure”, Al Jazeera’s Khodr said.

https://www.aljazeera.com/news/2022/9/16/bank-holdups-snowball-in-lebanon-as-depositors-demand-own-money

https://www.reuters.com/world/middle-east/armed-man-detained-after-holding-up-south-lebanon-bank-access-own-savings-2022-09-16/

https://www.cnn.com/2022/09/16/middleeast/lebanon-bank-holdup-intl/index.html

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