Man recovers $15,000 of savings in bank holdup in Lebanon amid limits on withdrawals

Edgar Awad in a branch of Al-Mawarid Bank in Antelias, Lebanon. (Screengrab)
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Updated 17 July 2023
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Man recovers $15,000 of savings in bank holdup in Lebanon amid limits on withdrawals

  • Depositor threatened to set fire to four gasoline canisters in bank
  • Woman storms supermarket in Beirut suburb 

BEIRUT: A depositor broke into a bank in Lebanon on Monday and threatened to set fire to four gasoline canisters he was carrying unless his financial deposit was returned immediately.

Depositor Edgar Awad and his 13-year-old son entered the Al-Mawarid Bank branch in Antelias, 5 km north of Beirut, and threw the canisters on the floor of the bank while shouting for the return of a deposit worth about $15,000.

Employees screamed as he threatened to ignite the canisters if his demand was not met.

The bank’s management immediately opened the safe for Awad, who took everything inside before leaving the bank.

People in Lebanon followed the details of the raid through social media.

Alaa Khorshid, head of the Depositors’ Association, told Arab News: “When Awad calculated the amount, it became clear to him that he had taken more than $50,000 ... so he turned himself in to the nearest police station and handed them the rest of the amount, and kept $14,800 — the value of his deposit withheld in the bank.”

Khorshid added that the man “has the right to recover his deposit, as he needs it, and there was a dispute inside the police station between us and the bank’s legal agent, but things ended with Awad leaving the police station without being arrested.”

Awad’s mother arrived at the police station and demanded the release of her son, claiming that he “took what belonged to him and did not steal.”

Depositor Omar Al-Awar entered the Banque Misr Liban branch in Beirut a week ago and threatened to retrieve his deposit worth $6,500.

He managed to take it without being arrested by the security forces.

The Central Bank of Lebanon decided to seize foreign currency bank deposits and prevent transfers in 2019 due to protests and the country’s economic collapse. The measure is still in force.

The bank did allow depositors to withdraw $400 per month at an exchange rate of 15,000 Lebanese pounds, and $400 in fresh dollars. This measure had allowed banks to get rid of their small deposits over the past two years.

The Central Bank decided two weeks ago to stop giving the amount in Lebanese pounds and instead give depositors $400 per month from their held deposit.

The exchange rate of the dollar on Saturday suddenly rose by about 10,000 Lebanese pounds, reaching a rate of 100,000 pounds in less than an hour due to fears surrounding the currency.

It quickly dropped back to around 93,000 pounds but remained volatile on Sunday and Monday.

Meanwhile, a 40-year-old woman broke into a supermarket in a suburb of Beirut on Monday and committed a robbery after brandishing what appeared to be a gun.

The Lebanese national — identified only as G.Y. — was previously imprisoned for eight years on charges of drug trafficking, drug use, prostitution, and theft.

The store forms part of a gas station in the neighborhood of Zouk Mosbeh, Lebanon’s Internal Security Forces said.

A security source told Arab News: “Women usually assist in theft operations, and sometimes we arrest women for shoplifting, but this is the first time that a woman has carried out such an act from A to Z alone: breaking in, brandishing a gun, and leaving.”

Investigating authorities later verified her identity and place of residence.

A source later said the gun she had in her possession was made of plastic, although activists on social media dubbed her “the savage lady.”


Turkish and Greek leaders set for talks on migration, maritime borders

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Turkish and Greek leaders set for talks on migration, maritime borders

  • Fifteen migrants died in a shipwreck off the Greek island of Chios last week after their boat collided with a Greek coast guard vessel and sank in the Aegean Sea off the Turkish coast
ANKARA: Turkish President Tayyip Erdogan ‌will host Greek Prime Minister Kyriakos Mitsotakis on Wednesday for talks likely to focus on migration and longstanding maritime disputes, as the ​NATO allies and historic rivals try to build on warming ties.
Fifteen migrants died in a shipwreck off the Greek island of Chios last week after their boat collided with a Greek coast guard vessel and sank in the Aegean Sea off the Turkish coast.
Mitsotakis will be accompanied by ministers responsible for foreign affairs, finance, ‌development and migration, ‌Greek officials said.
Developments in the Middle ​East, ‌Iran ⁠and ​Ukraine, migration, trade ⁠and organized crime are also likely to be on the agenda.
Greek Foreign Ministry spokeswoman Lana Zochiou said on Tuesday the aim was “to assess the progress of bilateral cooperation” and “to keep communication channels open to defuse any potential crises.”
Turkiye is a transit country for migrants seeking to ⁠reach the European Union via Greece. Ankara ‌says the EU has not ‌fully delivered on commitments under a ​2016 migration deal and ‌Athens wants Turkiye to do more to curb irregular ‌crossings.
Despite a thaw in rhetoric since a 2023 declaration on friendly relations, the neighbors are at odds over maritime boundaries in the Aegean, an area widely believed to hold energy resources ‌and with implications for airspace and military activity.
Ankara said last month it had issued ⁠a maritime ⁠notice urging Greece to coordinate research activities in areas of the Aegean that Turkiye considers part of its continental shelf.
Greece’s foreign minister had said Athens planned to extend its territorial waters further, including potentially in the Aegean.
In 1995, Turkiye’s parliament declared a casus belli — a cause for war — should Greece unilaterally extend its territorial waters beyond six nautical miles in the Aegean, a stance Athens says violates international maritime law. Greece says it wants ​only to discuss ​demarcation of maritime zones.