surprising reason(reason)

Tripoli: Lebanon is passing through its economic crisis. The situation is such that 9 out of 10 families here do not have money to buy food and drink. The reason (reason) is that the bank is not giving money to the people, so people have been forced to rob the banks. At the same time, Riyad Salameh, the governor of the central bank, is leaving his post after 30 years. He is accused of a $300 million scam.
A man is seen threatening the bank employees with acid. The person has been identified as Umar Awah. He told the media that he had not come to loot the money in the bank, but to take back the deposited money. He said, “I don’t want to harm anyone.” He intimidated the bankers to withdraw all his money, which is now only $ 6,500. There has been a huge devaluation of the currency in Lebanon. Due to which the value of the money deposited there has reduced considerably. The situation is such that people’s deposits in banks have reduced by 80%.

In Lebanon, the cases of robbery in banks have increased a lot. People are threatening the employees of the banks to withdraw their money from the bank and are forcibly withdrawing money from the banks. People say that the main reason for the chaos spread in the country is Riyad Salameh, one of the central bank governors who have been in office for a long time. Lebanon’s central bank gave money to borrowers under a Ponzi scheme and gave it until the Lebanese economy completely collapsed. People believe that it was because of him (Riyad Salameh) that this condition of the country happened. However, Riyad Salameh kept repeating that he was not responsible for this.

Lebanon’s GDP has declined by 40% and its foreign exchange reserves are almost two-thirds gone. Salameh is under investigation for embezzlement of funds while he was governor of the central bank. He is accused of money laundering of $300 million. However, he said, ‘I have shown the audited statement of my bank account which shows that the money deposited in my account is my earned money which I earned from my private job for 20 years.’ Salameh is under investigation for having considerable assets in Luxembourg, Monaco, Belgium and the UK.

Accountability Now, a Swiss NGO, is doing research on Salameh. They believe that he is connected to the criminal organization. Jena Wakim, chair of the board of Accountability Now, says, “Where is the aid money going to the needy in Lebanon ending up. In the past five years, $5 billion in international aid has come to Lebanon. Where did that money go, they have embezzled people’s money. The situation is such that 9 out of 10 families are not able to even afford the basic needs. People are yearning for electricity, medicine, fuel and food.