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Five bank ‘heists’ in a day as Lebanese demand their frozen savings

AFP . Beirut
18 Sep 2022 00:00:00 | Update: 18 Sep 2022 05:05:01
Five bank ‘heists’ in a day as Lebanese demand their frozen savings

Five Lebanese banks were stormed Friday by depositors seeking to unlock frozen savings, the latest in a string of such “heists” that have garnered wide public support in the crisis-hit country.

Lebanon has been mired in an economic crisis for more than two years, since the value of its currency began plummeting and banks started imposing draconian restrictions on withdrawals.

In the past week, seven bank branches have been targeted by “depositor heists”, prompting lenders to announce a three-day closure starting Monday, according to the Association of Banks in Lebanon.

As the incidents snowballed on Friday, Interior Minister Bassam Mawlawi called an emergency meeting in the afternoon.

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