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Lebanon adopts strict security measures following bank raids

September 17, 2022 at 11:22 am

Lebanon’s Interior Minister Bassam Mawlawi in Beirut on 25 January 2022 [ANWAR AMRO/AFP/Getty Images]

Lebanese Interior Minister Bassam Mawlawi has announced that the country will adopt strict security measures following bank raids carried out by depositors, Anadolu Agency reported on Friday.

Mawlawi’s remarks came during a press conference at the Interior Ministry, where security agencies were present to discuss measures to keep the country safe and stable.

Angry depositors stormed several banks across the country, demanding the withdrawal of their savings.

Following this, the Association of Banks in Lebanon announced that all banks would be closed for three days beginning Monday.

READ: Lebanon prisons 300% overcrowded, 75% inmates not convicted

“What we are witnessing today is an unhealthy phenomenon that threatens security and the country, and the security forces know very well how to tighten control,” the interior minister said.

Mawlawi called on depositors to remain calm: “Deposits cannot be recovered this way; it is illegal and can destroy the banking system and cause other depositors to lose money.”

Lebanon has witnessed an unprecedented financial crisis that has forced banks to place heavy restrictions on depositor withdrawals since 2019.

Lebanon is one long tale of disaster and crisis - Cartoon [Sabaaneh/MiddleEastMonitor]

Lebanon is one long tale of disaster and crisis – Cartoon [Sabaaneh/MiddleEastMonitor]