Depositor storms bank in Antelias, takes his $15000 savings
A Lebanese depositor broke into Mawarid bank in Antelias on Monday to demand his trapped savings.
Edgard Awwad stormed the bank with his thirteen years old son and left after he received his entire savings, a sum of $15000.
Last week, another depositor broke into BML bank in Beirut and held the branch manager hostage until he received his savings.
As the small country’s crippling economic crisis continues to worsen, a growing number of Lebanese depositors have opted to break into banks and forcefully withdraw their trapped savings, as Lebanon's cash-strapped banks have imposed informal limits on cash withdrawals.
Three-quarters of the population has plunged into poverty in an economic crisis that the World Bank describes as one of the worst in over a century. Meanwhile, the Lebanese pound has lost 90% of its value against the dollar, making it difficult for millions across the country to cope with skyrocketing prices.
Source: Naharnet
| Copyright © 2012 Naharnet.com. All Rights Reserved. | https://cdn.naharnet.com/stories/en/299009 |