Withdrawal ban, customers burn banks

BEIRUT: Due to restrictions on withdrawing money in Lebanon, bank customers went on fire and burned several commercial banks in Beirut.

According to international media reports, several dozen Lebanese protesters ransacked and set fire to commercial banks in an area of ​​Beirut on Thursday.

Demonstrators in Lebanon have been protesting informal restrictions on cash withdrawals and rapidly deteriorating economic conditions for years, with protesters even blocking roads.

Reuters The Lebanese pound hit a new record low on Thursday, according to protesters who targeted at least six banks.

Since 2019, Lebanese banks have been restricted from withdrawing US dollars and Lebanese pounds, and the practice has not been legalized, leaving depositors to access their funds through litigation and often by force. are doing

When Lebanon’s financial sector was hit in 2019, the Lebanese pound has since lost more than 98 percent of its value. per US dollar.

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