"It's frustrating as I need money to keep me going for the weekend," said one customer, a 25-year-old marketing professional.
Khaled, a branch manager at a bank in the commercial hub of Hamra, said: “Let us not forget that there has been an estimated record withdrawal of $3 billion from banks within the last six months.
The prolonged disruption across the country, however, has hit the economy, leaving many salaries unpaid, imported goods at risk, and families with less money sent from relatives abroad. Another customer was able to withdraw cash in Lebanese pounds from the same ATM. Since there is no law that regulates or prohibits such precautionary measures, banks have been applying their procedures, independently, instead of closing counters or leaving clients high and dry.”, Many banks are not issuing cheques in Lebanese pounds “but can do transfers into accounts”. Lebanese bank staff are facing abuse from customers angered by restrictions on access to their cash, the employees' union said on Friday, reflecting intensifying pressures in an economy gripped by its deepest crisis since the 1975-90 civil war. To find out more about the cookies and data we use, please check out our, Dear Reader, please register to read gulfnews.com, Password should have minimum 7 characters with at least one letter and number, Loyal investors now bail out on HSBC stock, Saudi Arabia floats plan to delay G-20 summit, Moody’s downgrades Kuwait’s credit rating, Many Dubai homeowners refuse to pay 2020 service fees, Strange dot on your iPhone? "Clients with guns have entered banks and security guards have been afraid to speak to them as when people are in a state like this you don't know how people will act," said George al Hajj, president of the Federation of Syndicates of Banks Employees. Saad al-Hariri, who quit as prime minister last week, is determined the next government should be devoid of political parties because such a cabinet will not be able to secure Western assistance, a source familiar with his view said. The pegged rate is 1,507.5 pounds. Pakistani actors define the feeling. Three major banks contacted by AFP on Monday confirmed they have halved the dollar withdrawal limit since the beginning of February, some capping the amount at $600 a month. “A big part of what banks have been doing are based on unauthorised and unilateral decisions,” said Zeina Mouanness, a lawyer. “They could lodge a breach of trust [criminal case] against the bank. The depositor initiated legal action against the bank that had refused her withdrawal rights and citing the country’s precarious financial condition.