Lebanon: Banks Allow Withdrawal of Small Deposits

Lebanon’s central bank is seen closed under a national lockdown imposed to contain the spread of coronavirus, in Beirut, Lebanon March 17, 2020. REUTERS/Mohamed Azakir
Lebanon’s central bank is seen closed under a national lockdown imposed to contain the spread of coronavirus, in Beirut, Lebanon March 17, 2020. REUTERS/Mohamed Azakir
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Lebanon: Banks Allow Withdrawal of Small Deposits

Lebanon’s central bank is seen closed under a national lockdown imposed to contain the spread of coronavirus, in Beirut, Lebanon March 17, 2020. REUTERS/Mohamed Azakir
Lebanon’s central bank is seen closed under a national lockdown imposed to contain the spread of coronavirus, in Beirut, Lebanon March 17, 2020. REUTERS/Mohamed Azakir

In an attempt to avoid further escalation by Hezbollah, Lebanese banks have agreed with the Lebanese central bank to allow small depositors with dollar denominated accounts to withdraw their money in local currency.

Based on a circular issued by the central bank last week, the holders of accounts worth $3,000 or less will be able to withdraw their money in Lebanese pounds at the market rate, which is more than 50% higher than the official rate.

Speaker Nabih Berri received Central Bank Governor Riad Salameh on Tuesday, with whom he discussed the recent financial and monetary measures and the means to secure the money of small depositors.

Berri reaffirmed the need to deal with the “people’s banks deposits as sanctities that cannot be disposed of under any circumstances.”

The central bank's decision came a few days after a warning by Hezbollah. In a televised speech, the party's Secretary General, Hassan Nasrallah, said: “You are able to address the conditions of small depositors and students abroad, and this matter can no longer be tolerated.”

In remarks to Asharq Al-Awsat, well-informed sources said that Nasrallah’s rhetoric has pushed the banks to ease restrictions on withdrawals, “as the priority now was to provide the people with their money rather than searching for aid, especially in these difficult circumstances.”

“The party would have adopted greater escalatory steps if banks had not responded,” the sources underlined.

Banking sources told Asharq Al-Awsat that there were around 1.7 million accounts of less than $3,000. The total deposits of those accounts reach around $796 million, while the number of accounts, in which the value of deposits ranges between $3,000-20,000 is around 451,000, encompassing a total value of $4.2 billion.



Gaza Rescuers Say 23 Killed in Israel Strike on Residential Block

A man walks amid the rubble of a building as Palestinian rescuers work at the site of an Israeli strike on a residential area in Gaza City's Shujaiya neighborhood, on April 9, 2025. (AFP)
A man walks amid the rubble of a building as Palestinian rescuers work at the site of an Israeli strike on a residential area in Gaza City's Shujaiya neighborhood, on April 9, 2025. (AFP)
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Gaza Rescuers Say 23 Killed in Israel Strike on Residential Block

A man walks amid the rubble of a building as Palestinian rescuers work at the site of an Israeli strike on a residential area in Gaza City's Shujaiya neighborhood, on April 9, 2025. (AFP)
A man walks amid the rubble of a building as Palestinian rescuers work at the site of an Israeli strike on a residential area in Gaza City's Shujaiya neighborhood, on April 9, 2025. (AFP)

Gaza's civil defense agency said an Israeli strike on a residential building in Gaza City killed at least 23 people Wednesday, most of them children or women, as the military said it targeted a "senior Hamas" fighter.

The latest strike comes weeks into a renewed offensive by Israel's military on the war-battered territory, which has displaced hundreds of thousands, while an aid blockade has revived the specter of famine for its 2.4 million people.

The strike took place in the Shujaiya neighborhood of Gaza City, the agency's spokesman Mahmud Bassal told AFP.

"The death toll from the Shujaiya massacre has risen to 23 martyrs, including eight children and eight women," he said, adding that more than 60 people were wounded.

"There are still people trapped under the rubble."  

Ayub Salim, a 26-year-old Shujaiya resident, told AFP he witnessed the strike on the four-storey block.  

He said the area was hit with "multiple missiles" and was "overcrowded with tents, displaced people and homes".  

"Shrapnel flew in all directions," he said, speaking of "a terrifying and indescribable scene".  

"Dust and massive destruction filled the entire place, we couldn't see anything, just the screams and panic of the people".  

Salim said the dead were "torn to pieces".  

"Even now, emergency crews are still transporting the dead and the injured. It is truly a horrific massacre," he said.  

A crew from the Gaza civil defense agency rushed to the scene, only to find several people trapped under the rubble, a rescuer said.

"This house was home to many people who believed they were safe. It was blown up over their heads," Ibrahim Abu al-Rish told AFP while men worked hard to clear out rubble behind him.  

He added that the strike hit while many children were playing inside.  

"The house was directly bombed, and the entire residential area was destroyed," he said.  

"We pulled out the remains of women and children. There are still people buried under the rubble."  

First responders and neighbors worked to break through the concrete floor of an entire storey that collapsed in the strike and trapped residents.  

Taking turns swinging a sledgehammer through the thick, hard surface, they eventually broke a hole through which the bodies of children were extracted and taken away wrapped in dusty blankets.  

- 'Bloody massacre' -  

When asked by AFP about the strike, the Israeli military said it "struck a senior Hamas terrorist who was responsible for planning and executing terrorist attacks" from the area.  

It did not give the target's name and renewed its claim that the group uses "human shields", which Hamas denies.  

Hamas condemned the strike as one of the "most heinous acts of genocide."  

"The terrorist Zionist occupation army has committed a bloody massacre by bombing a densely populated residential area filled with civilians and displaced people," the group said in a statement.

"These ongoing massacres against our defenseless people -- with full support from the American administration, which is complicit in the aggression -- represent a stain on the conscience of the international community."  

The Ramallah-based Palestinian Authority's foreign ministry condemned the strike as a "heinous massacre".  

"The ministry considers it an official Israeli attempt to systematically kill our people en masse and destroy the very foundations of their existence in the Gaza Strip, thus forcing them to emigrate," it said in a statement.  

Israel resumed intense strikes on the Gaza Strip on March 18, ending a two-month ceasefire with Hamas. Efforts to restore the truce have so far failed.  

The health ministry in the Hamas-run territory said on Wednesday that at least 1,482 Palestinians have been killed in the renewed Israeli operations, taking the overall death toll since the start of the war to 50,846.  

Hamas's October 2023 attack that triggered the war resulted in the deaths of 1,218 people on the Israeli side, mostly civilians, according to an AFP tally based on Israeli official figures.  

Hossam Badran, a member of Hamas's political bureau, told AFP on Tuesday that it was "necessary to reach a ceasefire" in Gaza.  

He added that "communication with the mediators is still ongoing" but that "so far, there are no new proposals".  

US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu said on Monday that new negotiations were in the works aimed at getting more hostages released from captivity in Gaza.  

Of the 251 hostages seized during Hamas's attack on Israel, 58 are still held in Gaza, including 34 the Israeli military says are dead.