Lebanese set fire to Banks Association President's house

2023-02-16 15:39:19 | Last Update : 2023-02-16 15:48:37

In Lebanon the rapid depreciation of the lira against the dollar and the record breaking caused protests. Lebanese depositors raided the home of the President of the Banks Association. They set the house on fire and wrote 'thieves' on the walls.

Lebanese set fire to Banks Association President's house
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Lebanon's currency, the Lebanese lira, plunged sharply against the dollar, setting a new record.

On Thursday, angry depositors set fire to the home of Banks Association chairman Salim Sfeir, whom some Lebanese accuse of increasing depositors' losses to protect banks.


Despite being under intense security measures, they initially tried to enter through the outer door of his house. They wrote "Thieves... Thieves" on the walls of the house.

The depositors were not satisfied with this. To protest their inability to withdraw their deposits, they smashed the facades of banks and burned tires in Beirut.

One of the protesters on Badaro Street, where the facades of 4 banks were broken, confirmed to Al-Arabiya/Al-Hadath that the demonstrators were not vandals and demanded their money looted by the banks.


Today's move comes 10 days after the Banks Association announced it was closing its doors and went on open strike, thinking the current crisis was not just a banking crisis but the entire financial system.


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