Banks in Lebanon have imposed informal capital controls since an economic downward spiral in 2019, allowing withdrawals of only limited amounts of US dollars or Lebanese pounds
Interior designer Sali Hafiz is on the run from authorities after forcing a bank to release her family savings. She is hailed as a folk hero by some in Lebanon When Lebanese politician Cynthia Zarazir entered the Antelias branch of Byblos Bank on Wednesday morning to demand access to $8,500 of her own money that had been frozen, her lawyers said it was a “last resort”.
“We’ve spent a few days going back and forth to the bank and bringing my reports and they don’t answer us. I can’t delay this any more. I came to take my money,” she said. “I came as a regular citizen, not as an MP.”She’s the latest and most high-profile name to join a growing trend across Lebanon that has seen frustrated residents hailed as folk heroes on social media after staging hold-ups at banks – in order to recover their own money.
Ms Zarazir’s actions coincided with a separate hold-up in a suburb of Beirut, where a man identified as Hussein Shukr demanded $48,000 from his account. Earlier this week, in the town of Jbeil, shots were fired at a branch of Beirut Bank. On Tuesday, there were four hold-ups across the country, two of which involved armed men demanding their money back, while another incident took place on Monday.
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