Half of the Lebanese population now depends on humanitarian aid, according to the UN. And some residents are robbing their banks to recover their own savings.
In Lebanon, the national currency is disappearing. Whereas before the start of the economic crisis in 2019, the largest banknote – 100,000 pounds – was worth 70 euros, it has just fallen below the symbolic bar of 1 euro. It therefore lost 98% of its value.
In the face of extreme devaluation, many traders now prefer to display prices in dollars. “We gradually switched with the crisis, from the Lebanese pound to the US dollar”says Karim, shopping in a supermarket in eastern Beirut. “It’s more practical, because before, we arrived at the supermarket with wads of money. Now we can pay in dollars. Because we import everything in the end, the country produces nothing. So these are the real prices which are displayed in supermarkets. The rest was a lie”believes the 50-year-old.
“It’s much simpler: our economy is dollarized.”
Karim, resident of Beirutat franceinfo
The problem is that unlike Karim, the majority of the population is still paid in Lebanese pounds, like 30-year-old Serena. “Our wages are not keeping up with inflation, it’s unfair!”she complains. “Filling the fridge has become very expensive. We just buy what is necessary, the minimum to survive.”
Rob his bank, to recover his own savings
According to the United Nations, half the population now depends on humanitarian aid. Indeed, most Lebanese no longer have a safety net, a pension or health insurance. And since the financial crisis, which is accentuated every day a little more in the country, their savings are blocked in the banks. Withdrawals are rationed by the authorities. “It’s a catastrophe”is sorry Zeina, 60, who is trying to collect some tickets from a distributor. “Our own money is blocked, we don’t know what to do. We are hostages, but in our own house. No job, no money… It’s not fair.”
“I don’t even know how I’m going to pay for electricity at the end of the month.”
Zeina, 60-year-old Lebaneseat franceinfo
Like everyone else, Zeina points the responsibility of the corrupt political class in power. Because if since 2019, Lebanese like her can no longer withdraw their money, many politicians and bank managers have been able to save their savings. “Whether Christians or Muslims, they are all in the same boat”accuses the sexagenarian. “They transferred their money abroad, they live very well. On the other hand, we, the population, what are they dying for?”
A situation that gave rise to a phenomenon a few months ago: dozens of Lebanese, sometimes armed, who rob their own bank. So far, none of them have been convicted. Because if robbing a bank is obviously illegal in Lebanon, preventing a depositor from withdrawing his money is also illegal.
Rob his bank, to recover his own savings
“We are stealing, in quotes, our own money. Between us, we prefer to call it a ‘version 2.0 withdrawal'”says George *, who made an appointment with franceinfo in an underground car park. “It is a bank withdrawal, but which requires muscular methods, whereas it is our most total right”. This man, who says he is ready to rob the manager of his bank very soon, suffers from a chronic illness. He needs the 100,000 dollars placed in his account to heal himself. “To be very clear: today, driven to despair and strong in our right to survival, we are ready for anything.”
“In a 2.0 withdrawal, the robber is the hero. And the thief is the bank.”
George, Lebaneseat franceinfo
George is part of one of the most important associations for the defense of the rights of Lebanese depositors, Mouttahidoun. Its founder, the lawyer Rami Ollaik, supports these amateur robbers. He justifies the use of violence against the directors of banking institutions: “Despite the evidence, none have been arrested”he recalls. “Justice does not act, no one is held accountable. So we cannot tell depositors who die at the gates of hospitals, or who are unable to feed their families, to wait nicely for justice to come. wake up”.
“Their savings are in the hands of bank owners who are thieves”continues Rami Ollaik. “They spend lavishly, and don’t care about people’s suffering. So we have to help depositors to take justice into their own hands, and get their money back.” These robberies are not without risk. Banks recruit private security guards, who are often armed. Veritable militias, hired to protect their agencies and the homes of their powerful leaders.
∗ The first name has been changed