During the last few months, banking customers in Lebanon have been dealing with withdrawal limits and cash shortages throughout the country. News.Bitcoin.com reported on the start of the friction between the country’s citizens and Lebanon’s central bank. At the time the financial institution (Banque du Liban or BDL) imposed cash withdrawal limits across the country and bank customers were only allowed to withdraw $1,000 per week.

These days, long lines at ATMs and bank branches are a common sight in Lebanon.
After the withdrawal restrictions, Lebanese citizens began protesting as the nationwide cash crisis saw emptied ATMs and a slew of banking institutions closed. The problems continued into November, as banks remained closed because they were constantly dealing with protestors and angry clients. Demonstrators say Lebanon’s central bank and the country’s smaller financial institutions mismanaged the country’s wealth.

Branches have armed security when they are open for business.
In 2020, the situation in Lebanon remains the same and local reports detail on January 4, banks in northern Lebanon started closing again. Lebanon’s National News Agency said that lenders “balked at customer anger over a liquidity crisis.” AFP reports that banks in the northern region of Akkar locked the doors and shut down on Friday and Saturday. Sources noted that Lebanon’s Association of Banks called the branches and told them to shut down “until further notice.”

Sourced through Scoop.it from: news.bitcoin.com