×
  • World - Asia
  • Updated: September 26, 2022

Lebanon: Banks Reopen After Wave Of Heists

Lebanon: Banks Reopen After Wave Of Heists

Banks in crisis-hit Lebanon partially reopened on Monday following closure amid a wave of heists.

The heists saw assailants storming at least seven bank branches earlier this month, demanding to withdraw their trapped savings.

The country’s economy has spiralled, with about three-quarters of the population plunged into poverty. The Lebanese pound has lost over 90% of its value against the dollar.

The frustrations boiled over this month, with angry and desperate depositors – including one armed with a hunting rifle – started holding up the banks.

One of them broke into a Beirut bank branch with a fake pistol and retrieved some $13,000 in her savings to cover her sister’s cancer treatment.

However, only a handful of bank branches opened on Monday – accepting only customers with prior appointments for corporate transactions.

The partial reopening was to continue indefinitely until banks can secure the safety of their employees.

Related Topics

Join our Telegram platform to get news update Join Now

0 Comment(s)

See this post in...

Notice

We have selected third parties to use cookies for technical purposes as specified in the Cookie Policy. Use the “Accept All” button to consent or “Customize” button to set your cookie tracking settings