Desperate Lebanese Citizens Hold Up Banks to Access Their Money amid Financial Collapse

Desperate Lebanese Citizens Hold Up Banks to Access Their Money amid Financial Collapse
Facebook
Twitter
Telegram
Reddit
Email

Banks in Lebanon have been flooded with desperate customers trying to withdraw their frozen money as the country faces complete financial collapse.

Most customers are only allowed to withdraw small, which is not enough to cover basic living costs, while most have been locked out of foreign currency assets for the last two years.

As FT notes, Lebanon’s financial collapse is one of the worst economic crises in modern history — is in its third year and has forced three-quarters of the population into poverty. The currency has lost more than 90 percent of its value.

On Wednesday, customers held up banks attempting to access their savings before the country’s economy collapsed.

One woman even resorted to using a toy gun to get her own money from a branch of BLOM bank in Beirut; she eventually with over $13,000.

Watch

Nowhere to turn

The woman, Sali Hafiz, said she needed the money for her sister’s cancer treatment.

According to BLOM bank, customers forced the branch manager and treasurer to bring money from a safe.

In another incident, an armed man went into a Bankmed branch in the mountain city of Aley to access his savings.

The man was later arrested, but charges were dropped.

READ MORE:  Explosive Devices Equal To '500KG Of TNT' Destroyed Nord Stream, Officials Say

“I have nothing more to lose,” the man said.

Ms. Hafiz told local media that she had no choice but to hold up the BLOM bank.

“I have nothing more to lose, I got to the end of the road,” she said.

“I got to a point where I was going to sell my kidney so that my sister could receive treatment.”

Ms. Hafiz tried to draw money days earlier but was refused.

Her mother told local TV: “All we have is this money in the bank. My daughter was forced to take this money – it’s her right, it’s in her account – to treat her sister.”

Financial collapse forcing millions into poverty

Although banks are supposed to make exceptions for customers trying to pay for things like hospital care, many say they do not do this.

Senior bankers have warned that hold-ups may increase.

One told Reuters:

“I think this is an invitation for other people to do the same. As long as people get away with it, they will continue. What a failed state.”

In the August incident, a local man received widespread sympathy after he stormed a Beirut bank with a rifle and held employees and customers hostage for hours to demand some of his $200,000 in frozen savings to pay hospital bills for his sick father.

He was detained but swiftly released.

In January, a bank customer held dozens of people hostage after being told he could not withdraw his foreign currency savings.

Local media reported the man was eventually given some of his savings and surrendered to security forces.

READ MORE:  Liz Cheney Launches PAC to Stop MAGA Candidates from Reaching Office

Lebanon has been hammered by its worst economic crisis since 2019.

The local currency has lost more than 90 percent of its value on the black market, while poverty and unemployment have soared.

Subscribe
Notify of
guest
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
www ary news live
1 month ago

Excellent blog you have got here.. Its hard to find quality writing like yours these days. I really appreciate people like you! Take care!! ary latest news

Breaking

Trending

CNN's Primetime Viewership Plummets to Just 444,000 as Don Lemon Hits Record Low
CNN's Primetime Viewership Plummets to Just 444,000 as Don Lemon Hits Record Low
CNN’s average primetime viewership took a nose dive to only 444,000 viewers during the week of...
Former NFL Player Jessie Lemonier, 25, Dies Suddenly
Former NFL Player Jessie Lemonier, 25, Dies Suddenly
Former NFL defensive end Jessie Lemonier has died aged 25 years old, the Lions announced Thursday. “We...
Matt Gaetz: "They Had to Accuse Trump of Colluding with Russia Because He Was the Only One Who Wasn't"
Matt Gaetz: "They Had to Accuse Trump of Colluding with Russia Because He Was the Only One Who Wasn't"
Matt Gaetz joined Steve Bannon on the War Room to discuss the Deep State’s reaction to the unfolding...
GREAT RESET: EU Gives Green Light for Two Insect Species to Be used for Human Consumption
GREAT RESET: EU Gives Green Light for Two Insect Species to Be used for Human Consumption
The European Union has given the green light for an additional two insect species to be used for human...
Lindsey Graham Laughs as Trump Says 'We Need a Leader to Stand Up to the RINOs' - WATCH
Lindsey Graham Laughs As Trump Says 'We Need a Leader to Stand Up to the RINOs' - WATCH
When Former President Donald Trump gave his moving speech in South Carolina on Saturday, one of his battle...
Paul Pelosi Attacker David DePape Makes Bizzare Call to TV Station: 'I've Got an Important Message...'
Paul Pelosi Attacker David DePape Makes Bizzare Call to TV Station: 'I've Got an Important Message...'
David DePape, the man who attacked Paul Pelosi in his home last year, made a bizarre call to a news station...
Lori Lightfoot Blasted for Blissfully DANCING in Streets of Chicago as Crime Soars 61%
Lori Lightfoot Blasted for Blissfully DANCING in Streets of Chicago as Crime Soars 61%
Chicago Mayor Lori Lightfoot was filmed dancing in the streets as violent crime continued to soar in...
Former California Democratic Mayor Pleads No Contest to Multiple Child Sex Crimes
Former California Democratic Mayor Pleads No Contest to Multiple Child Sex Crimes
Former Democratic mayor of a Northern California city, Robert Jacob, has pleaded no contest to six counts...
Whoopi Goldberg Tries To Spin Biden's Classified Docs Scandal, Fails Spectacularly - WATCH
Whoopi Goldberg Tries To Spin Biden's Classified Docs Scandal, Fails Spectacularly - WATCH
“The View” host Whoopi Goldberg tried to spin Joe Biden’s classified documents scandal...
Nancy Pelosi Caught Out Over Mysterious 'Timing' of Her MASSIVE Stock Trade, DOJ Lawsuit
Nancy Pelosi Caught Out Over Mysterious 'Timing' of Her MASSIVE Stock Trade, DOJ Lawsuit
In the closing days of Nancy Pelosi’s reign as House speaker and weeks before an antitrust lawsuit...
1
0
What are your thoughts? Click to commentx
()
x

JOIN THE FIGHT!

SIGN UP FOR OUR FREE BREAKING NEWSLETTER STRAIGHT TO YOUR INBOX! 

We don’t spam! Read our Privacy Policy for more info.