In August 2019, it became increasingly clear that Lebanon was suffering from a liquidity crisis and there were reports and news that stated that the financial coverup and US sanctions had caused the Lebanese economy to suffer a severe and targeted problem and situation. And of course this was not at all a good thing for Lebanon when its economy was in trouble. And it is reported that by the end of 2018 some commercial banks and people’s accounts were frozen and by the first week of March 2020 Lebanon was saying it could go on its Eurobond debt.
Where the country started the process of seeking a restructuring agreement and the currency exchange in Lebanon became more and more affected by the black market rate and of course the report that came in August 2022 quoted that the black market rate would have been is what the currency is actually worth and the pain that Lebanon’s inflation was reported to rise to 211% in 2022 suggested by economist Steve Hanke that the country should take advantage and seek the aid of a currency board .
On December 17, NPR’s columnist described how poverty-stricken Lebanese are making several attempts to access their own savings accounts and through banks where they are protesting outside banks that She is told she is unable to transact on her account and at a branch of IBL Bank in Lebanon, she is told by Sherlock not to leave the bank until Zahra Khalid, a 53-year-old woman sitting in a wheelchair until the employees receive their lifetime capital and deposits because of her comment that the bank had frozen “tens of thousands of dollars” where the woman further states that her protest is a modest tactic Some are trying to use guns or other means to get their money back and the reporter points out that some Lebanese who resort to this tactic are the only ones who are owed something and want to get their money back. want to take
Accordingly we see this report all over the internet and it confirms that Lebanon’s bank accounts have been frozen since 2019 since the start of Lebanon’s economic collapse and anger accumulates in 2020 protesting so much and so much More demonstrated that the walls of commercial banks and specific institutions and buildings were targeted.
Reuters reported in September 2022 that “Banks in Lebanon have ground to a halt as depositors demand their own money,” as such acts have become a common occurrence in the country. Reuters reported in detail that depositors blocked banks to access their own funds and that some depositors managed to get $60,000 and topped it, while others was taken into custody. In November 2022, it was reported by Al Jazeera that banks in Lebanon had been reopening for 2 weeks and that they had been waiting for check payments for more than a week.
It is reported in fact that he talked to the staff for hours and eventually the staff left him and that his religion was somehow saved by the Lebanese police known as the Internal Security Force. Lebanese depositors have a variety of problems and issues that are being demonstrated and of course the protests are ongoing, such as Bank Audi, IBL Bank, Blom Bank, BLC Bank, Bank of Beirut, Fransbank and Byblos Bank Story 16 Dec Reuters reports that Lebanese commercial banks may be subject to a harsher lawsuit and litigation outside Lebanon, according to a US court ruling.
Surely we can say that Lebanon’s commerce was done by banks affecting their customers and some customers are hey for their deposits and withdrawals and certainly it was a difficult problem when Lebanon has The money was refused to be refunded and the customers had to show protest and outrage outside the bank in which all the older children were involved. Of course the struggle to get bank fridge accounts is still on and according to Bank of America it will still have to go through more stringent procedures.