Dozens of Lebanese depositors protested outside banks in Beirut on Tuesday, setting fires and demanding the recovery of their frozen savings. The protest was called by the activist group 'Depositors' Cry' (Sarhatu'l Mudiin).
The protest took place in the Sin el-Fil area north of Beirut, at branches of Banque Libano-Francaise (BLF), Byblos Bank, and Bank of Beirut. Protesters set fires at the entrances of the banks. According to some reports, protesters burned tires at Bank of Beirut, while there are conflicting accounts regarding damage: some sources say protesters smashed the facades of some banks, while others report no damage to branches.
Protests were reported to have occurred in the Mekalles area, with alleged attempts to set fire to a Byblos Bank branch. Later, protesters moved to the home of Selim Sfeir, head of the Lebanese Banks Association and chairman of Bank of Beirut.
Depositor Ali Rızık accused Lebanese officials of theft and demanded the immediate return of frozen deposits.
Since 2019, Lebanese banks have imposed restrictions on foreign currency deposits and withdrawals, effectively freezing accounts. Some sources report that the economy has contracted by nearly 40% since 2019, and inflation has reached record levels. The International Monetary Fund (IMF) says Lebanon is facing an unprecedented sovereign, banking, and monetary crisis. The Lebanese banking system losses were estimated at around $70 billion in 2022. The World Bank called the collapse one of the worst global crises since the mid-19th century.
In December 2025, the Lebanese government prepared a draft law for deposit return. Accounts differ on its status: some sources say it was approved by Lebanese President Joseph Avn, while others report it was passed by the cabinet but not yet enacted by parliament. The draft law stipulates that deposits under $100,000 be paid within 4 years; for deposits over $100,000, the first $100,000 is paid in cash and the rest in transferable bank bonds or long-term securities with maturities up to 20 years.
The draft law reportedly faces opposition from both the Lebanese Banks Association and depositors. The International Monetary Fund (IMF) called the draft law a 'first step' toward restructuring the banking system.