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Lebanon banks close branches for 3 days after depositors' incidents

"Where is the state? Where is the government? Why did you elect them? Why did we give our votes to these thieves?"

September 16, 2022 at 2:42 pm

The Association of Banks in Lebanon, on Friday, announced the closure of all banks’ branches across Lebanon for three days after a series of depositors’ hold-ups demanding withdrawal of their savings, Anadolu News Agency reports.

The Association said the closure comes to protest the incidents by the depositors and the attacks that happened against the bank employees.

According to official statements, six incidents of hold-ups by depositors took place on Friday, in different banks in Beirut.

Meanwhile, Interior Minister, Bassam Mawlawi, called for an emergency meeting to discuss the measures that can be taken to address the banks’ storming incidents.

Lebanon has witnessed repeated incidents in banks following their refusal to give clients their money in US dollars.

For more than two-and-a-half years, Lebanon’s banks have imposed restrictions on depositors’ money in foreign currency, especially the dollar, and set tight ceilings on withdrawing money in Lebanese pounds.

Lebanon has been grappling with a severe economic crisis since 2019, leaving most people locked out of their bank accounts.

Read: Woman holds up Lebanon bank for $13,000 of her own money, advocacy group says