Lebanon’s angry depositors demand their money back from banks

Lebanon’s angry depositors demand their money back from banks

BEIRUT — A number of angry bank depositors staged a sit-in on Tuesday in front of parliament in Beirut, in the latest move against the country’s deteriorating financial situation.

The protest comes in response to a call made last week by the Depositors' Outcry Association, a local group defending the rights of bank depositors, to protest against the state’s current financial policies and to demand the recovery of their deposits.

Dozens of protesters marched from the Beirut municipality building toward parliament. Some burned tyres and blocked the roads around parliament amid heavy deployment of the army and security forces. Another group of depositors attempted to storm a branch of Bank Audi in the area and smashed the bank’s ATM. Some injuries were reported amid clashes with security forces.

The local LBCI channel reported that some protesters gathered in front of caretaker Prime Minister Najib Mikati’s house in Beirut and tried to cut the barbed wire around the building amid heavy security deployment.

“We want parliamentarians to assume their responsibilities,” one of the protesters told the crowd in front of parliament. “We will continue to fight for our rights to our deposits.”

Lebanon has been grappling with its worst economic crisis in decades since October 2019.