Arab Press

بالشعب و للشعب
Friday, Jun 20, 2025

Five Bank ‘Heists’ in a Day as Lebanese Demand Their Frozen Savings

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" in the crisis-hit country that have garnered wide public support.

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 for an emergency meeting in the afternoon.

"Reclaiming rights in this way... can break the system and make the rest of the depositors lose their rights," he told reporters after the meeting.

The holdup of a Beirut bank on Wednesday by an activist who filmed herself using a toy gun appears to have sparked a series of copycat raids by angry depositors.

On Friday there were another three such incidents in Beirut and two in south Lebanon, AFP correspondents and a security source said.

In one case, a man carrying a gun and jerrycan of fuel demanded staff at a branch of the Byblos bank in the southern town of Ghaziyeh hand over his money.

Accompanied by his son, he threatened bank staff with the gun, which a Lebanese television channel said may have been a toy, before making his demand.

"He emptied a jerrycan of fuel on the floor," a bank security guard told an AFP correspondent.

The man walked away with about $19,000 in cash but turned himself in to police moments later as a crowd formed in front of the bank to support him.

Not 'a bank robber'


A few hours later in the Beirut neighborhood of Tariq al-Jdideh, a tense security situation developed around a branch of Blom Bank, although details were unclear.

Witnesses outside the bank said a shop-owner had demanded access to his trapped savings to pay off debts.

He was locked inside the bank together with police officers, the witnesses told AFP at the scene, but was thought to be unarmed.

Another man armed with a hunting rifle stormed a bank in Beirut's Ramlet el-Baida neighborhood on Friday, witnesses told an AFP photographer at the scene.

The spate of heists comes two days after a young activist stormed a central Beirut bank with fuel and a plastic gun to demand the deposits of her sister, who needed to pay for cancer treatment.

The woman identified as Sali Hafiz made off with around $13,000 and became an instant hero on social media.

"She had every right to do this. I would do the same if I was as brave as her," said Carla Chehab, a 28-year-old Beirut resident.

"The thieves are the banks, the government and all rich people protecting them," she added.

Emergency meeting


The severity of Lebanon's crisis has been widely blamed on a self-serving political elite and decades of corruption.

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

Banks have been widely accused of operating like a cartel and of spiriting large amounts out of the country for senior Lebanese officials at a time when foreign transfers were already blocked for ordinary citizens.

A parliament session to approve the 2022 budget, a key reform needed for Lebanon to unlock billions of dollars from international lenders, was adjourned to September 26 on Friday after quorum was lost when some lawmakers walked out.

Last month, a man drew 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 and was present Friday outside the bank in Tariq al-Jdideh to express his support.

The raids of recent weeks are seen as mostly acts of desperation by Lebanese depositors who do not have criminal records, garnering sympathy from the country's main depositors' association.

"We call on every depositor who refuses injustice, oppression and theft to support any depositor who asks for what is rightfully theirs," association member Tala Khalil told AFP.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Syria to Reconnect to Global Economy After 14 Years of Isolation
Saudi Arabia Faces Uncertainty Over Succession After Mohammed bin Salman
Israel Confirms Arming Gaza Clan to Counter Hamas Influence
Majority of French Voters View Macron's Presidency as a Failure
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
Iran Warns Europe Against Politicizing UN Nuclear Report
Businessman Mauled by Lion at Luxury Namibian Lodge
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
Head of Gaza Aid Group Resigns Amid Humanitarian Concerns
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
×