Arab Press

بالشعب و للشعب
Saturday, Sep 23, 2023

Armed man takes hostages at Beirut bank demanding return of frozen funds

Armed man takes hostages at Beirut bank demanding return of frozen funds

An armed man held employees and customers hostage at a bank on Beirut's bustling Hamra street Thursday demanding his frozen funds be released, according to a security source and Lebanon's state.

After an hours-long standoff, the man surrendered to security forces after receiving a portion of his bank account, according to the security source. The source spoke on the condition of anonymity due to professional norms.

The man was promised $30,000 out of the $210,000 in his frozen bank account as part of the terms of his surrender, according to NNA.

The armed man said he needed the funds to pay for his father's operation, threatening to torch the bank and kill everyone in it, according to NNA. The man, was seen in social media video wielding an assault rifle.

"Give me back my money!" the man was heard shouting out in a social media video recorded from the bank. "I don't have a lot of time."

The bearded hostage-taker is seen nervously pacing around the bank as he curses at his hostages.

Scores of people gathered outside the bank demanding that the bank return the funds to the hostage-taker in an incident that has spotlighted the desperation of Lebanese depositors in the midst of the country's financial tailspin. Many of the hostage-taker's supporters chanted antigovernment slogans.

Protesters hurled water bottles at security forces as the hostage taker stepped out of the bank, waving at his supporters.

Army soldiers gather near a "Federal Bank" branch in Lebanon's capital Beirut on August 11, 2022. - A customer armed with a rifle and threatening to set himself ablaze held bank workers hostage on August 11 in Lebanon's capital demanding to withdraw his savings of over $200,000, security sources said.

Since the start of Lebanon's financial crisis in October 2019, the country's banking sector has imposed discretionary capital controls, severely restricting people's access to their life savings.

Earlier on Thursday, the head of the Lebanese Depositors' Association, Hassan Mughniyeh entered the bank in an attempt to negotiate the release of the hostages but the man fired two stray shots, according to NNA.

"The political authority and banking institutions in Lebanon are responsible for this situation," Mughniyeh said according to NNA. "If matters are not addressed swiftly, the situation will worsen."

Lebanon's economic crisis, which erupted in 2019, has propelled more than three quarters of the population into poverty and caused the local currency to lose over 90% of its October 2019 value.


Related Articles

Arab Press
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Israel: Unprecedented Civil Disobedience Looms as IDF Reservists Protest Judiciary Reform
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Swedish Embassy in Baghdad Engulfed in Flames Amidst a Firestorm of Protests
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Today, we're unveiling the splendor of one of Saudi Arabia's most exclusive and stunning retreats – the Jeddah Yacht Club
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
Europe is boiling: Extreme Weather Conditions Prevail Across the Continent
Israeli Prime Minister Netanyahu Hospitalized Due to Dehydration Amidst Summer Heatwave
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Saudi Arabia Joins the Treaty of Amity and Cooperation in Southeast Asia
The Renowned Crown Prince Camel Festival Set to Return to Taif on Aug. 1
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
An Ominous Shift in Warfare: Western Powers Risk War Crimes and Violate International Norms with Cluster Bomb Supply to Ukraine
Bye bye democracy, human rights, freedom: French Cops Can Now Secretly Activate Phone Cameras, Microphones And GPS To Spy On Citizens
The Poor Man With Money, Mark Zuckerberg, Unveils Twitter Replica with Heavy-Handed Censorship: A New Low in Innovation?
Tensions Escalate as Iran Challenges Saudi Arabia's Sovereignty over Al-Durrah Gas Field
The Double-Edged Sword of AI: AI is linked to layoffs in industry that created it
Saudi Arabia and China Forge New Frontiers in Space Exploration
US Sanctions on China's Chip Industry Backfire, Prompting Self-Inflicted Blowback
Meta Copy Twitter with New App, Threads
The New French Revolution
BlackRock Bitcoin ETF Application Refiled, Naming Coinbase as ‘Surveillance-Sharing’ Partner
Corruption in the European Parliament - Business as usual
UK Crypto and Stablecoin Regulations Become Law as Royal Assent is Granted
Paris Suburb Grapples with Violence as Curfew Imposed: Saint-Denis Residents Express Dismay and Anger
A Delaware city wants to let businesses vote in its elections