Middle East

Lebanese man held hostage by bank employee released

first news

Bassam al-Sheikh Hussein has taken drastic action to use his savings to cover his father’s surgery costs.

Hussein has been hailed as a hero by many in Lebanon, blaming the country’s political and banking elite for what the World Bank calls one of the worst financial crises of modern times. (AP)

A Lebanese man who held a bank employee hostage in Beirut last week and demanded access to his locked savings has been released from custody after charges were dropped.

Judge Ghassan al-Koury has ordered the release of Bassam al-Sheikh Hussein, who attacked a Federal Bank branch in Beirut with a rifle.

A judicial official told AFP news agency on Wednesday that Hussein had since been released but still faces possible prosecution by the state.

After hours of standoff last Thursday, Hussein turned himself in after banks agreed to withdraw $30,000 of their more than $200,000 savings, according to media reports.

read more: Lebanese bank shooter freed after trying to access his savings

He took drastic action to use his savings to cover his father’s surgery, according to state media reports.

The incident was the latest between a Lebanese bank and angry depositors unable to access savings that had been frozen since 2019.

hailed as a hero

Hussein has been hailed as a hero by many in Lebanon, blaming the country’s political and banking elite for what the World Bank calls one of the worst financial crises of modern times.

In a report this month, the World Bank accused authorities of misusing and wasting people’s deposits over the past 30 years, accusing public officials of benefiting key political and economic players at the expense of regular depositors. denounced the “Ponzi” scheme approach to public funding.

read more: Beirut bank hostage drama ends after armed man turns himself in

“The government has consistently and sharply deviated from orderly and disciplined fiscal policy to serve the greater purpose of consolidating political and economic interests,” he said, calling the economic crisis a “deliberate depression.”

Source: AFP

https://www.trtworld.com/middle-east/lebanese-man-who-held-bank-staff-hostage-for-trapped-savings-released-59845?utm_source=other&utm_medium=rss Lebanese man held hostage by bank employee released

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