Arabs News

Lebanese wave of anger and arson

Several regions in Lebanon witnessed a wave of anger, with the national currency recording a sharp deterioration in its value against the dollar, setting a new record.

Today, Thursday, angry depositors set fire to the house of the head of the Association of Banks, Salim Sfeir, whom some Lebanese accuse of exacerbating the losses of depositors in order to protect the banks.

They also tried to break into the outer gate of his house at first, amid intense security measures, and wrote the slogan “Thieves… Thieves” on the wall of the house.

Dozens of protesters smashed bank facades and burned tires in Beirut to protest against their inability to withdraw their deposits, during a move called for by the Depositors’ Scream Association, which is a civil initiative concerned with the rights of depositors and accompanies their movements.

The demonstrators burned tires in front of the banks they targeted.

While one of the protesters in Badaro Street, where the facades of 4 banks were smashed, confirmed that the demonstrators are not vandals, but are demanding their money, which was looted by the banks.

It is noteworthy that, since the beginning of the economic collapse in the fall of 2019, Lebanese banks have imposed strict restrictions on withdrawing deposits, which have increased gradually, until it has become almost impossible for depositors to dispose of their money, especially those deposited in US dollars, or transfer them abroad.

And due to the impact of the crisis, which the World Bank ranked among the worst in the world since 1850, the lira lost about 95 percent of its value.

While the living and economic situation has increased and worsened, as livelihoods have narrowed for many, poverty and unemployment rates have risen, as well as migration.

The high price of all prices, especially raw materials, gasoline and others, has reached unprecedented ceilings.

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