Thursday, June 20, 2024

In Lebanon, lots of people are very angry and have started demonstrating against the banks due to a financial crisis. People feel helpless as their money starts disappearing. In response, some people threw rocks at bank windows, lit fires and created riots. At the same time, there are also serious corruption accusations leveled at the leaders of Lebanon’s central bank regarding fraud, stealing and political wrongdoings.

Rage Boiling Up in Lebanon

In February 2023, people in Lebanon were so angry because banks had taken away a lot of their money that they burned down some banks! CryptokenTop News reported this news and said residents’ accounts were blocked so they couldn’t get to their money. To make matters worse, prices for items in Lebanon kept going up, making it hard for them to live.

In March 2023, signs of protest roared through cities like Beirut. Windows were broken and burning tires filled the air as people expressed their rage towards Riad Salameh, Lebanon’s central bank governor.

In May 2023, people in Lebanon got very anxious about their money when the Bank Audi branch in Beirut downtown faced unrest. To contain the situation, Bank Audi asked security personnel and police officers to come and help.

A lot of people in Lebanon are really mad because they can’t get access to their savings. They are blaming two brothers named Salameh and his brother who might have stolen a lot of money from six different countries. According to The National, these brothers could have set up a huge scam.

In Lebanon, a lot of money disappeared suddenly from the financial system. It was way too much to be handled by one company or bank. This caused huge losses of nearly $70 billion which means most people lost every penny they saved up. For many of them, poverty became their new reality.

Suspicions of Wrongdoing in Lebanon

The French police have accused Salameh of doing something wrong. They think he lied about his money by using fake bank statements. There is going to be a hearing in France on May 16th so the police can decide if Salameh did anything wrong.

Ordinary citizens in Lebanon are facing a difficult situation without access to their money. This problem has created a lot of fury as people struggle to find ways to pay for important necessities like food and shelter. Lebanese banks right now are not offering much service; the buildings are empty, ATMs don’t have cash, and bank tellers have nothing to do. All this just shows how bad things have gotten for Lebanon’s economy.

Do you have any thoughts about what is happening with money in Lebanon and suspicions that the governor of their bank did something wrong? Please let us know your ideas and opinions in the comments section!

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