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bankingJanuary 11, 2023

Depositor fires gunshots at BLOM bank in Sidon

A depositor fired gunshots at the closed door of BLOM Bank in Sidon on Tuesday in an attempt to storm the bank.

Mohammad, a member of the Lebanese Army, clashed with the bank's security guards before firing from his pistol at the bank's door after the bank refused to sell him dollars at the Sayrafa rate, media reports said.

Mohammad was later arrested by the army.

A central bank circular allows individuals to exchange Lebanese pounds for fresh dollars from commercial banks at the Sayrafa rate, a rate lower than the market rate set by the Central Bank on a platform called Sayrafa platform.

Some banks apply limits, terms and conditions to individuals who want to benefit from the circular, and others refuse to implement it.

Also on Tuesday, the Lebanese Depositors Association posted on its twitter account the picture of an armed man inside the Banque Libano-Française in Nabatieh.