Lebanon banks close branches for 3 days after depositors' incidents

By Stephanie Radi

BEIRUT (AA) - The Association of Banks in Lebanon on Friday announced the closure of all banks' branches across Lebanon for three days after a series of depositors' hold-ups demanding withdrawal of their savings.

The association said the closure comes to protest the incidents by the depositors and the attacks that happened against the bank employees.

According to official statements, six incidents of hold-ups by depositors took place on Friday in different banks in Beirut.

Meanwhile, Interior Minister Bassam Mawlawi called for an emergency meeting to discuss the measures that can be taken to address the banks' storming incidents.

Lebanon has witnessed repeated incidents in the bank following their refusal to give clients their money in US dollars.

For more than two-and-a-half years, Lebanon's banks have imposed restrictions on depositors' money in foreign currency, especially the dollar, and set tight ceilings on withdrawing money in Lebanese pounds.

Lebanon has been grappling with a severe economic crisis since 2019, leaving most people locked out of their bank accounts.

* Writing by Ahmed Asmar in Ankara