Armed man holds Beirut bank staff hostage, demands savings

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Banks in Lebanon have implemented strict withdrawal limits amid economic crisis.

A man armed with a shotgun is holding staff hostage at a bank in crisis-hit Lebanon’s capital, Beirut, threatening to set himself ablaze with gasoline unless he receives his trapped savings, according to a security official.

The man entered a branch of the Federal Bank in Beirut’s bustling Hamra district on Thursday carrying a canister of gasoline. He was holding six or seven bank employees hostage, according to the official, who spoke on condition of anonymity in line with regulations.

The man also fired three warning shots, the official said.

Local media reported he has about $200,000 stuck in the bank.

Banks in Lebanon, which is suffering from the worst economic crisis in its modern history, have implemented strict withdrawal limits on foreign currency assets, effectively freezing the savings of many citizens.

More to follow.