Search
Search

Live Society

Serial bank holdups by depositors across Lebanon: Follow our coverage of the day

What you need to know

Since Friday morning, at least three bank holdups are in progress across different bank branches in Lebanon.

These actions follow Wednesday's bank takeover, with depositor Sali Hafez demanding her own funds in a Beirut bank, and another holdup in a bank in Aley.

Across Lebanon, people have become increasingly frustrated three years after their funds continue to be illegally held by the banks since October 2019.


21:02 Beirut Time

This concludes our live coverage for the day. Thank you for following us.

20:28 Beirut Time

Abed Soubra left Tariq al-Jdideh's Blom Bank in Beirut Friday night without securing any of his savings, according to local media.

Soubra was reportedly evacuated from the scene in a civilian police vehicle under a very tense atmosphere. Scuffles broke out in the crowd outside the bank as he was evacuated.

Abed Soubra told local channel Al-Jadeed his negotiations with the bank will resume Monday, despite the announced closure of all banking institutions.

20:13 Beirut Time

"Until the army comes to get me, I'm not leaving," Abed Soubra told the local channel al-Jadeed.

Soubra is still negotiating with Blom Bank in Tariq al-Jdideh, Beirut, to withdraw funds from his own account. The channel reported that Blom Bank offered Soubra $50,000 at a rate of LL 12,000 to the dollar, but the proposal was later withdrawn.

Soubra is sticking to his position.

19:47 Beirut Time

As of 7:30 pm, one bank hold-up was still in progress in Lebanon. Four other hold-ups concluded after the depositors who attacked their banks were able to withdraw some of their own funds.

Update:

- The situation remains tense in Tariq al-Jdideh, Beirut, where Abed Soubra is still in negotiations to withdraw his funds from Blom Bank. Our correspondents on the scene were able to capture exchanges between Soubra — who is determined to stay until he receives his funds, even if it means spending the night — and the director of the establishment, Amira Rizk. "If they had the opportunity to give you the money, they would," said a visibly exhausted Rizk. "They have [the money]," replied a man accompanying Soubra.

- In Shehim, in the Chouf, Lieutenant Karim Serhal, who was armed and fired several shots earlier in the day, reached an agreement with BankMed. He was able to withdraw $25,000 out of his $200,000 total deposit from the local branch, according to local media outlets. Serhal was reportedly escorted from the scene by the ISF.

- In Ramlet al-Baida, Beirut, Jawad Slim finally accepted the proposal of the Bank of Lebanon and the Gulf (LGB): $15,000 in cash and $35,000 in bank checks. He was escorted from the scene by the ISF.

- In Kafaat, in the southern suburbs of Beirut, Mohammad Moussaoui, armed with a plastic gun, was able to obtain $20,000 from the local branch of the Banque Libano-Française. Mr. Moussaoui's current situation is unclear.

- In Ghazieh, South Lebanon, Mohammad Korkomaz and his son were able to withdraw $19,200 out of a total deposit of $20,000 from Banque Byblos. Mr. Korkomaz and his son were later arrested.

19:45 Beirut Time

Lieutenant Karim Serhal walked out of the BankMed branch in Shehim, Chouf, after obtaining $25,000 of his $200,000 total savings, several local media outlets reported Friday night.

Members of the Internal Security Forces quickly escorted Serhal to a vehicle while holding back the crowd, which cheered the depositor. Serhal had entered the establishment with a gun around 1 p.m. and fired several shots.

19:07 Beirut Time

After more than eight hours of tense negotiation, Jawad Slim finally accepted his bank's proposal: $15,000 in cash and $35,000 in bank checks.

Slim held up the Bank of Lebanon and the Gulf (LGB) in Ramlet al-Baida, Beirut, on Friday in an attempt to withdraw his own funds. His brother, Hassan Slim, confirmed to L'Orient Le-Jour that Jawad accepted the bank's proposal.

Jawad Slim reportedly left the bank under an ISF escort.

Slim initially refused a proposal of $10,000, after which the bank offered an additional $5,000.

17:53 Beirut Time

Abed Soubra, the depositor that broke into the Blom Bank in Tariq al-Jdideh, told L'Orient-Le Jour he is demanding a minimum of $50,000 at the Sayrafa rate, a Bank of Lebanon (BDL) platform developed in an attempt to stabilize the exchange rate.

Soubra said he will not leave the bank until he receives his money, even if it is necessary to stay overnight. He reportedly injured his left hand in a struggle with the bank's security officers. Soubra also said he is in discussions with the Blom Bank manager.


(In the photo taken by Caroline Hayek: Abed Soubra (left) and sitting behind the desk Amira Rizk, the director of the agency)

17:28 Beirut Time

Here is an interactive map of bank hold-ups by depositors in Lebanon since January 2022. You can click on the markers to see more information and links to our coverage of the different events.



17:16 Beirut Time

The collective Mouttahidoun and the association The Cry of Depositors, which campaign for the rights of bank customers, held a joint press conference Friday afternoon.

Rami Ollaik, a lawyer, activist and founder of Mouttahidoun, announced the two associations have "a list of names of several depositors who will be helped" to recover their funds, without offering specifics. After two bank hold-ups in Beirut and Aley on Wednesday, Ollaik confirmed to L'Orient Today that the actions were "coordinated" by the associations and that representatives of Mouttahidoun were involved.

"We are at war and the battle continues until the objectives are achieved," said Ollaik. "This whole story goes further than the banks. It reaches the establishment, the mafia and the deep state."

Ollaik placed the responsibility for the hostage-taking "on the judges, who are giving up on justice ... We are tired of the bank executives blaming the state without doing any work, when they have never taken any acceptable action."

Alaa Khorchid, president of The Cry of Depositors, warned that "If the banks close down, we will go and look for their managers in their houses, whether in Lebanon or abroad." He also criticized the recent statements of outgoing Interior Minister Bassam Mawlawi.

"Those he should protect are the depositors. His statement is very dangerous," Khorchid said, referring to Mawlawi's promise to "impose law and order."

17:02 Beirut Time

In Ramlet al-Baida, another fight broke out between the families of employees still stuck inside the LGB Bank and the protesters who support hostage taker Jawad Slim. The Internal security forces broke up the fight, but the situation remains tense outside the bank. The scene is reportedly calm inside the bank, where negotiations are still underway.

16:56 Beirut Time

As of 4:30 pm, three bank hold-ups are still in progress in Lebanon, while two concluded with depositors able to withdraw part of their funds.

- In Shehim, in the Chouf, Lieutenant Karim Serhal, who is armed and fired several shots, is still negotiating to withdraw $200,000 from his savings in a BankMed branch.

- In Ramlet el-Bayda, Beirut, Jawad Slim is still negotiating to withdraw $35,000 of his $50,000 deposit at the Lebanon and Gulf Bank (LGB).

- In Tariq-el Jdideh, Beirut, Abed Soubra is still negotiating to withdraw his funds from BankMed.

- In Kafaat, a southern suburb of Beirut, Mohammad Moussaoui, armed with a plastic gun, was able to obtain $20,000 from the local branch of the Lebanese French Bank. Mr. Moussaoui appears to have since returned home.

- In Ghazieh, South Lebanon, Mohammad Korkomaz and his son were able to withdraw $19,200 out of a total deposit of $20,000 from Byblos Bank. Mr. Korkomaz and his son were arrested.

16:29 Beirut Time

Mawlawi: “Security apparatuses in the country have met together and came up with a strict plan to impose law and order in order to protect depositors and citizens.”

More from his press conference earlier this afternoon here.

16:13 Beirut Time

LGB's depositor in Ramlet al-Baida, Jawad Slim, had only been allowed to withdraw LL2 million a month from the bank before storming it demanding $50,000 from his own funds, according to his brother Hassan Slim. Hassan also added that Jawad has seven children and school tuition prices have skyrocketed, reaching LL20 million per child.

15:48 Beirut Time

In Shehim, Internal Security Forces lieutenant Karim Serhal is holding hostage five people, as well as the bank's manager, inside BankMed. The bank manager is still negotiating with him and has offered to give him $100,000, which he refused, and is insisting on the entirety of his $200,000 deposit.

15:47 Beirut Time

The Lebanese Depositors Association said on Twitter that "depositors are preparing to try to force their way into the ABL [Association of Banks in Lebanon] headquarters in downtown Beirut, where bank executives are meeting."


15:42 Beirut Time

In Shehim, the hold-up is still ongoing at BankMed where negotiations are taking place between the armed depositor, Karim Serhal, who is a lieutenant in the Internal Security Forces, and the bank, as Serhal demands $200,000 from his funds. Dozens of people have gathered near the branch to support him.

15:33 Beirut Time

During the bank takeover carried out by Abed Soubra at the Blom Bank in Tariq al-Jdideh, a depositor, Souheila Choukeir, who is 89 years old, entered the establishment at about 12:30 p.m. and was able to retrieve $1,000 from her deposit after almost two hours inside the establishment.

The holdup is still in progress.

15:18 Beirut Time

In a video, a man who identified himself as Mohammad al-Moussawi, the man who stormed the Lebanese French Bank (BLF) in Kafaat, in the southern suburbs of Beirut, explained that in order to withdraw funds Friday morning, he threatened employees with a "plastic gun" which he then threw away as he left the bank. "Every time I go to get my money, I am humiliated. I am forced to beg because of corrupt politicians," Moussawi said. Earlier in the day, he had confirmed to Al Jadeed channel that he had been able to withdraw $20,000.

15:12 Beirut Time

Families of Lebanon and Gulf Bank employees arrived at Ramlet al-Baida and a fight broke out between them and protestors before security officials interfered to defuse the situation.

15:01 Beirut Time

A depositor who opened fire in Shehim, Chouf, in a takeover of BankMed, is a lieutenant in the Internal Security Forces. The police established a security perimeter around BankMed and prevented all people in the area from approaching the establishment, according to L'Orient Today's correspondent Mountasser Abdallah.

14:50 Beirut Time

Abdallah Hajj, 57, stands outside the Lebanon and Gulf Bank (LGB) in Ramlet al-Baida, in support of Jawad Slim in his attempt to withdraw $50,000 of his own money. “I encourage all Lebanese to not rest until we take out our money. They stole the money, we worked for our whole lives.” He lost his eye recently and was not able to take out his own funds from the bank to treat it, telling L’Orient Today, “I shouldn't have to beg for my money from the bank.”

Five employees of LGB have been released, and seven employees remain inside. According to the released employees, Slim asked for $35,000 of his $50,000 deposit, to which the bank offered him $15,000, which Slim refused. Negotiations are still ongoing.

14:38 Beirut Time

In Tariq al-Jdideh, near the bank, tensions broke out between deployed soldiers and local youth. "No one can enter Tariq al-Jdideh except Saad Hariri," the former Prime Minister who is now retired from politics, said a man in front of Blom Bank.

Citizens also got angry when former Minister of Justice and current MP in Tripoli Ashraf Rifi arrived in the area, with some heard screaming, “The elections are over, why is he here?” Other residents ad protesters insisted that Rifi has “nothing to do with” them.

14:36 Beirut Time

In Ramlet al-Baida, an Internal Security Forces officer at the site told L’Orient Today that customers were released and the only people remaining are the employees of Lebanon and Gulf Bank (LGB).

The ISF has closed off the street leading to LGB and blocked the building's entrance, as protestors chant, "Down with the rule of the bank."

14:29 Beirut Time

On Friday, as of 2:30 p.m., L'Orient Today confirmed five bank takeovers in progress or to have taken place.

• The first one took place Friday morning, when a man entered the Byblos Bank in Ghazieh, in the southern part of Lebanon, with what looked like a weapon.

• The second takeover was in Tariq al-Jdideh's Blom Bank branch in Beirut.

• Bank holdups also took place at the Lebanon and the Gulf Bank (LGB), and at the Lebanese French Bank (BLF) in al-Kafaat, in the southern suburbs of Beirut.

• Shots were fired in a Bank Med branch in the town of Shehim, in the Chouf, according to Reuters. No injuries were reported.

14:27 Beirut Time

Abed Soubra's brother told L'Orient Today that Soubra is the only depositor who has stormed a bank without pointing a gun at anyone, and the gun he has is for his "personal safety only." If Soubra had pointed his gun toward other people, "They would have immediately given him his money and not stalled the process until now," he added.

14:25 Beirut Time

Shots were fired in a Bank Med branch in the town of Shehim, in the Chouf, according to Reuters. No injuries were reported.

14:25 Beirut Time

From our archives: Lebanese bank amnesty disguised as capital control law by Sibylle Rizk, director of public policy at the NGO Kulluna Irada.

14:21 Beirut Time

In Tariq al-Jdideh, where the hold-up is still in progress, former Minister of Interior Ashraf Rifi arrived to the scene and was able to enter the bank.

14:20 Beirut Time

Byblos Bank decided to close all its branches in South Lebanon until further notice to “preserve the safety of its employees and customers,” the bank said in a statement Friday.

The bank called on security officials to take all “necessary legal measures” against "people who assault the banks."

14:09 Beirut Time

On Friday, as of 1:30 p.m., L'Orient Today confirmed four bank takeovers in progress or to have taken place. This marks six bank holdups this week.

• The first one took place Friday morning, when a man entered the Byblos Bank in Ghazieh, in the southern part of Lebanon, with what looked like a weapon.

• The second takeover was in Tariq al-Jdideh's Blom Bank branch in Beirut.

• Bank holdups also took place at the Lebanon and the Gulf Bank (LGB), and at the Lebanese French Bank (BLF) in al-Kafaat, in the southern suburbs of Beirut.

14:05 Beirut Time

From our archives and in order to give you perspective: Federal Bank standoff: Should depositors take the law into their own hands?

14:02 Beirut Time

The Banque Libano-Française in Hamra denied to LBC that it was the target of a hostage-taking or a robbery, after reports circulated on social networks. Rumors about a robbery at the SGBL in Nabatieh, South Lebanon, were also debunked by L'Orient Today's correspondent in South Lebanon.

13:56 Beirut Time

Banks in Lebanon will be closed for three days on September 19, 20 and 21 to protest against the “repeated attacks on banks and especially on bank employees,” the Association of Banks in Lebanon (ABL) said in a statement Friday.

ABL also apologized to the depositors “for any inconvenience or delay that may result from this closure, because the safety of the banks, employees and customers is of great importance.”

13:48 Beirut Time

At the Lebanon and Gulf Bank of Ramlet al-Baida, in Beirut, a man named Jawad Slim stormed the bank and is currently in negotiations, according to local media. He wants to withdraw $50,000 but there is reportedly only $10,000 in the bank as negotiations are ongoing. Most people who were inside, mostly employees, have been evacuated by security forces.

Other employees working in the same building as the bank are currently exiting the building in fear of an escalation.

13:45 Beirut Time

After information regarding another holdup at the Lebanese Swiss Bank in al-Kafaat, in the southern suburbs of Beirut, a depositor M. Al Moussawi told Al Jadeed that he was able to withdraw $20,000 from his $20,800 deposit in that bank. He didn't mention if he was armed and how he managed to withdraw his funds.

Bystanders in the neighborhood told L'Orient Today that the Internal Security Forces arrived at the bank as the incident was taking place and left shortly after.

13:43 Beirut Time

Negotiators told Soubra that the bank has agreed to give him $40,000 of his deposit, at the LL12,000 rate, while protestors outside the bank chanted that this deal is a "joke."

Local media reported that Soubra has $270,000 in the bank that he has not been able to withdraw since 2019.

13:28 Beirut Time

Caretaker Interior Minister Bassam Mawlawi called for an emergency meeting of the Central Internal Security Council, at 2 p.m. Friday to discuss the security measures that can be taken in light of the emerging events on banks.

13:28 Beirut Time

According to Reuters, Lebanese banks will announce closures for three days next week due to security concerns amid increasing holdups by depositors.

13:27 Beirut Time

According to local media, other banks are currently being targeted in Hamra and Ramlet al-Baida.

13:23 Beirut Time

In front of another Blom bank branch, in Hamra, onlookers were torn between supporting the depositor’s action, with one lady stating that if such a situation happened while she was at the bank she would help the depositor, while another lady stated that "It’s selfish, and soon enough they’ll punish us all, and there won’t be any more cash in the banks.”

13:22 Beirut Time

Abed Soubra, the depositor who stormed into the Blom Bank branch in Tariq al-Jdideh, was video calling men outside and updating them on the situation before he lost connection. Residents of the area rushed to the scene and are currently trying to break into the bank by tearing down the main gate, according to L'Orient Today's journalist on the site.

"We are all with you! Do not give up before getting the money," people were heard chanting outside the bank. "Abed, tell the director of the bank that we are going to take her kids from her house," another man in the crowd threatens.

Bassam al-Sheikh, who was involved in a bank holdup last month in Hamra was present. Members of the "Cry of the Depositors" association were also present.

13:21 Beirut Time

Around noon, an armed man entered the Blom bank branch in Beirut's Tariq al-Jdideh neighborhood and is currently still there. Security forces were deployed in the area and the situation seems to be under control.

13:20 Beirut Time

Two depositors, in Beirut and South Lebanon, took bank employees and citizens hostage and demanded their money Friday morning.

13:16 Beirut Time

Since this Friday morning, several bank holdups are being conducted across Lebanon by depositors wanting to recover their money.

Follow our live coverage here