Lebanon banks close in solidarity after assault on staff

Elong Flot
Member
Joined: 2021-06-26 03:34:38
2021-06-30 04:28:48

Lebanon banks close in solidarity after assault on staff

 

 

Banks in Lebanon have closed for slotxo the day after an assault on staff at the headquarters of Lebanese Swiss Bank.

About 100 men stormed the building in Beirut on Monday night, trying to access closed accounts and injuring three employees, according to the bank.

The Association of Banks in Lebanon denounced the "disgraceful attack" and said branches would shut in solidarity.

Lebanon is in the midst of one of the world's most severe economic crises in modern times.

The Lebanese pound has lost more than 90% of its value against the US dollar since 2019 and inflation has skyrocketed, wiping out people's wages and causing food prices to triple.

Tight restrictions have also been placed on bank accounts, leaving people unable to withdraw their savings or transfer money abroad.

Lebanese Swiss Bank said Monday's attack was carried out by people belonging to a charity in the south of Lebanon, Baneen, whose accounts had been closed for an unspecified reason. It said they barged their way in and forced employees to transfer money to accounts in Turkey.

Baneen's President, Mohammed Baydoon, denied that force was used and said the funds were transferred amicably.

On Saturday, people angered by the worsening living conditions attempted to break into branches of Lebanon's central bank in the cities of Tripoli and Sidon.

The protests erupted after the value of the Lebanese pound hit a record low, reaching 18,000 to the US dollar on the black market.

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Joined: 2022-01-22 04:57:34
2022-01-22 04:59:30

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