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.



Gunman Shot Dead, 3 Police Injured in Shooting near Israeli Embassy in Jordan

Image of the Israeli embassy building in Amman. (Archive)
Image of the Israeli embassy building in Amman. (Archive)
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Gunman Shot Dead, 3 Police Injured in Shooting near Israeli Embassy in Jordan

Image of the Israeli embassy building in Amman. (Archive)
Image of the Israeli embassy building in Amman. (Archive)

A gunman was dead and three policemen injured after a shooting near the Israeli embassy in neighboring Jordan, a security source and state media said on Sunday.
Police shot a gunman who had fired at a police patrol in the Rabiah neighborhood of Amman, state news agency Petra reported, citing public security, adding investigations were ongoing.
Jordan's government communications minister, Mohamed Momani, described the shooting as a terror attack that targeted public security forces in the country. He said in a statement that investigations into the attack were under way.
Jordanian police had earlier cordoned off an area near the heavily policed embassy after gunshots were heard, witnesses said. Two witnesses said police and ambulances rushed to the Rabiah neighborhood, where the embassy is located.
The area is a flashpoint for frequent demonstrations against Israel. The kingdom has witnessed some of the biggest peaceful rallies across the region as anti-Israel sentiment runs high over the war in Gaza.
Police had called on residents to stay in their homes as security personnel searched for the culprits, a security source said.