Lebanon's Banks to Reopen on Monday

People queue outside a bank in Tripoli, Lebanon November 1, 2019. (Reuters)
People queue outside a bank in Tripoli, Lebanon November 1, 2019. (Reuters)
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Lebanon's Banks to Reopen on Monday

People queue outside a bank in Tripoli, Lebanon November 1, 2019. (Reuters)
People queue outside a bank in Tripoli, Lebanon November 1, 2019. (Reuters)

Lebanon's banks will reopen on Monday, with each taking their own measures, the country's banking association said in a statement on Sunday.

The country's banks have shut for about five days following a spree of bank hold-ups by frustrated depositors seeking access to their frozen savings.

On September 16, several banks were held up in Lebanon, where commercial banks have locked most depositors out of their savings since an economic crisis took hold three years ago, leaving much of the population unable to pay for basics.

Lebanon's banks association announced a three-day closure over security concerns and urged the government to pass laws to deal with the crisis. The closure was extended later on.

Authorities have been slow to pass reforms that would grant access to $3 billion from the International Monetary Fund, and on Friday failed to pass a 2022 budget.

Without a capital controls law, banks have imposed unilateral limits on what most depositors can retrieve each week in US dollars or the Lebanese lira, which has lost more than 95% of its value since 2019.



Jordan Army Says It Thwarts Border Infiltration across Syria, One Killed

In this May 23, 2021, file photo, the Syria national flag is displayed at a gathering at Omayyid Square in the Syrian capital Damascus, Syria. (AP)
In this May 23, 2021, file photo, the Syria national flag is displayed at a gathering at Omayyid Square in the Syrian capital Damascus, Syria. (AP)
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Jordan Army Says It Thwarts Border Infiltration across Syria, One Killed

In this May 23, 2021, file photo, the Syria national flag is displayed at a gathering at Omayyid Square in the Syrian capital Damascus, Syria. (AP)
In this May 23, 2021, file photo, the Syria national flag is displayed at a gathering at Omayyid Square in the Syrian capital Damascus, Syria. (AP)

The Jordanian army said on Sunday it had killed one person and arrested six others who tried to cross the border from Syria.

Officials say there has been a spike in such attempts in recent weeks by drug and arms smugglers linked to pro-Iranian militias who hold sway in southern Syria.

The army says they have also used drones in their operations.

Damascus denies any complicity and says it tries to curb rampant drug and arms smuggling across the border with Jordan.