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)
TT

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.



Israel Issues Evacuation Warning for Five Southern Lebanese Towns

A civil defense member walks among the debris at the site of an Israeli strike in Beirut's Basta neighborhood, amid the ongoing hostilities between Hezbollah and Israeli forces, Lebanon November 23, 2024. REUTERS/Thaier Al-Sudani
A civil defense member walks among the debris at the site of an Israeli strike in Beirut's Basta neighborhood, amid the ongoing hostilities between Hezbollah and Israeli forces, Lebanon November 23, 2024. REUTERS/Thaier Al-Sudani
TT

Israel Issues Evacuation Warning for Five Southern Lebanese Towns

A civil defense member walks among the debris at the site of an Israeli strike in Beirut's Basta neighborhood, amid the ongoing hostilities between Hezbollah and Israeli forces, Lebanon November 23, 2024. REUTERS/Thaier Al-Sudani
A civil defense member walks among the debris at the site of an Israeli strike in Beirut's Basta neighborhood, amid the ongoing hostilities between Hezbollah and Israeli forces, Lebanon November 23, 2024. REUTERS/Thaier Al-Sudani

The Israeli army issued a statement on Sunday requesting the residents of five towns in southern Lebanon to evacuate in anticipation of airstrikes, while warning residents not to head south.
The military told the residents of Zawtar al-Sharqiya, Zawtar al-Gharbiya, Arnoun, Yuhmor, and al-Qusayba, to evacuate their homes immediately and move north of the Awwali River.
“You must evacuate immediately to the north of Awwali River to ensure your safety, you must evacuate without delay. Anyone near Hezbollah fighters, facilities or weapons is putting their life at risk”, added the statement.
In a separate statement, the army said that sirens sounded in central Israel due to Hezbollah rockets fired from Lebanon.
It added that six projectiles were detected crossing from Lebanon into Israeli territory, and that its air forces intercepted five of the rockets, while the last one landed in an open area.