Armed man who held bank staff hostage to withdraw savings becomes hero in Lebanon

A Lebanese man who took a bank hostage in order to access his own money is being hailed as a hero by the public in Beirut.

Bassam al-Sheikh Hussein, a 42-year-old food-delivery driver, stormed the Federal Bank branch in the capital to withdraw a part of his frozen savings of $210,000 to help pay for his father’s hospital bill.

According to AFP news agency, he entered the bank with a rifle, poured petrol and demanded his money. Following a seven-hour stand-off, he was arrested and taken out of the bank, with no injury being reported.

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LBC TV channel reported that the armed man surrendered after he was allowed to take $35,000 of his savings upfront.

Dozens of protesters gathered outside the bank during the stand-off and chanted, "You are a hero."

The hostage taker represents the anger of a wider public whose savings accounts have been frozen for over three years due to the economic crisis. Banks have allowed depositors only token withdrawals of dollars each month that are insufficient to meet the most basic of needs.

Mariam Chehadi, Hussein’s wife, who was standing outside, told reporters that her husband “did what he had to do,”reports AP news agency.

Hussein’s brother Atef, also standing outside the bank, defended his brother. “My brother is not a scoundrel. He is a decent man. He takes what he has from his own pocket to give to others.”

Notably, this was the second incident of bank siege reported this year. In January, another angry depositor doused customers in a regional bank with fuel and demanded his savings. He too was successful.

The country is in the midst of one of the world's most severe economic crises. Apart from the cost-of-living crisis and shortages of wheat and medicines, Lebanon's local currency has lost more than 90 per cent of its value since 2019.

According to UN, around four-fifths of the population is living in poverty.

(With inputs from agencies)

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