Lebanon’s banks will remain closed “indefinitely” following a spate of armed robberies by angry depositors desperate to gain access to their savings.
The beleaguered country’s banking association said on Thursday that banks would stay shut “in the absence of assurances” about security from the state. The grouping, which represent most banks, cited “the continued risks to bank employees and customers inside branches, and in light of the ongoing atmosphere of incitement”.
Banks shut their doors to customers after a spree of heists at seven bank branches last week as the nation’s three-year financial crisis deepens and the situation for many Lebanese becomes increasingly dire.
The banking sector has frozen deposits for more than two years and put limits on how much money people can withdraw, at a time when three-quarters of the population has been plunged into poverty.
Many Lebanese blame the financial sector and the central bank for the crisis, and in August a man drew widespread attention and public support after he held up a Federal Bank branch and walked out with $35,000 of his own money. He was not charged with a crime.
In what appeared to be copycat incidents, other disgruntled customers stormed branches last week in seven separate incidents, wielding handguns, replica and pellet guns, demanding that tellers hand over their deposits. Some were successful, and handed over bags of cash to family before being taken into custody or going into…
