Bank Attacked with Explosive in Lebanon

Arab World

April 26th, 5:51am

Asharq Al-Awsat

Lebanese security forces inspect the entrance to a Fransabank branch in the southern city of Sidon on April 25 after unknown assailants targeted it with an explosive device. AFP

An explosive device was lobbed at a bank in Lebanon on Saturday night damaging its glass facade. No immediate reports of casualties were issued. The official National News Agency said the assault targeted a branch of Fransabank in the southern port city of Sidon. The attack came a day after Prime Minister Hassan Diab said Lebanese bank deposits had plunged $5.7 billion in the first two months of the year, despite curbs on withdrawals and a ban on transfers abroad. Lebanon is grappling with a severe lack of liquidity and an acute economic crisis that has been compounded since mid-March by a lockdown to combat the novel coronavirus, AFP reported. The dire economic situation has sparked street protests that first erupted in October last year, as well as several attacks on banks nationwide. In recent months, the Lebanese pound, which has been pegged to the US dollar since 1997, has plummeted in value from around 1,500 pounds against the greenback to almost 3,800 on the parallel market. Banks had gradually restricted dollar withdrawals until halting them altogether last month.

from Asharq AL-awsat https://aawsat.com/english/home/article/2253236/bank-attacked-explosive-lebanon