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.



Top Israeli Security Delegation in Doha for Gaza Talks

An Israeli soldier sits on top of a tank at a camp, amid the ongoing conflict between Israel and Hamas, near the Israel-Gaza border, in Israel, January 12, 2025. REUTERS
An Israeli soldier sits on top of a tank at a camp, amid the ongoing conflict between Israel and Hamas, near the Israel-Gaza border, in Israel, January 12, 2025. REUTERS
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Top Israeli Security Delegation in Doha for Gaza Talks

An Israeli soldier sits on top of a tank at a camp, amid the ongoing conflict between Israel and Hamas, near the Israel-Gaza border, in Israel, January 12, 2025. REUTERS
An Israeli soldier sits on top of a tank at a camp, amid the ongoing conflict between Israel and Hamas, near the Israel-Gaza border, in Israel, January 12, 2025. REUTERS

A top level Israeli security delegation arrived in Qatar on Sunday for talks on a Gaza hostage and ceasefire deal, a spokesperson for Israeli Prime Minister Benjamin Netanyahu said, in a possible sign of so-far elusive agreements nearing.

Qatar and fellow mediators Egypt and the United States are making renewed efforts to reach a deal to halt the fighting in the enclave and free the remaining 98 hostages held there before President-elect Donald Trump takes office on Jan. 20.

Netanyahu's office said on Saturday that the delegation includes Mossad Head David Barnea, the head of the Shin Bet domestic security service Ronen Bar and the military's head of the hostage brief, Nitzan Alon.

Trump's Middle East envoy, Steve Witkoff, met on Saturday with Netanyahu, after having met on Friday with Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani, Reuters reported.

Israeli and Palestinian officials have said since Thursday that some progress has been made in the indirect talks between Israel and militant group Hamas but did not elaborate. The sides have been keeping a tight lid on the details being worked out.

It is unclear how they will bridge one of the biggest gaps that has persisted throughout previous rounds of talks: Hamas demands an end to the war while Israel says it won't end the war as long as Hamas rules Gaza and poses a threat to Israelis.

Israel launched its assault in Gaza after Hamas fighters stormed across its borders in October 2023. Since then, more than 46,000 people have been killed in Gaza, according to Palestinian health officials, with much of the enclave laid to waste and gripped by a humanitarian crisis, and most of its population displaced.