Lebanese Man Hailed A ¡®Hero¡¯ For Robbing Bank For His Own Money

Robbing a bank is likely to land you behind the bars and label you a criminal. But can it make you a hero? Sounds weird, right? Perhaps that is exactly what a recent happening in Lebanon depicts.

Vanya GautamUpdated: Feb 02, 2022, 15:49 IST
4 min read
Lebanese man robs bank for own money amidst crisis
Reuters

Robbing a bank is likely to land you behind the bars and label you a criminal. That's an expected consequence. But can it make you a hero? Sounds weird, right? Perhaps that is exactly what a recent happening in Lebanon depicts.

Abdallah Assaii, a 37-year-old cafe owner, is accused of storming into a bank last week in the Bekaa Valley with a gun and grenade.

Lebanese man robs bank for own money Thetimes.co.uk

He even doused himself in petrol and threatened to burn himself after he was told he could not withdraw the cash from his savings account.

Also Read; How Turkey's Currency Crisis Is Hurting Your Favorite Nutella

Support From People

Lebanon crisis thenewyorktimes

Assaii has been hailed a ¡®hero¡¯ by many people in Lebanon, a country where people have only been allowed to take out a limited amount of cash from their accounts since October 2019. Even upon getting to know this extreme action from Assaii¡¯s side, many Lebanese were ready to excuse him, with members of his community rather saying that he needed his money to pay for the expenses of his cafe.

As per Assaii¡¯s family, his coffee shop was robbed of up to $15,000 a few weeks before the incident, and he also owed 200 million Lebanese pounds (about $8,700) for purchases towards a fruit and vegetable stall that he operated.

His wife is reportedly on the run with the cash.

Assaii¡¯s lawyer claimed that the bank had refused his repeated requests for checks in the week preceding this extreme incident of robbing the bank.

An NGO worker in Assaii¡¯s hometown told The National newpaper, "Abdallah managed to do what no one could do in all of Lebanon. He didn¡¯t steal the money. It was his.¡±

Supporters of Assaii had gathered later after Friday prayers in Jeb Jannine, wherein a local Imam Alaa Baalbaaki said ¡°We are asking from the state to release Abdallah Assaii because he is in the right. We are all Abdallah Assaii.¡±

But an unnamed BBAC employee who was one of Assaii¡¯s hostages, said to local news website SBI ¡°I¡¯m not against people taking their money, no one is saying that what¡¯s happening is right, but it¡¯s not the branch employees¡¯ fault¡±. If [people] want their rights they should go to the [bank¡¯s] main offices and to politicians. They are behind what¡¯s happening in the country¡±.

Bank unions have argued that Assaii¡¯s actions can endanger bank employees all around the country, and have demanded that local authorities must take steps to increase security measures to prevent copycat incidents in future.

Also Read: How Sri Lanka's Economic Crisis Has Led To Used Cars Costing More Than A Luxury Flat

Lebanon¡¯s Crisis

Lebanon crisis Atalayar.com

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Lebanon, a country with a population of over six million, has been experiencing its worst-ever financial crisis, with its currency Lebanese pound having lost around 90% of its value since 2019.

The country's economic meltdown has been described by the World Bank as one of the world's worst since the 1850s, which has pushed an estimated 4 million families into poverty in the last two years, trapped people¡¯s savings in banks, and resulted in qualified labour emigrating in droves.

The Reasons Behind Crisis

Lebanon crisis shutterstock

Also Read: Why Is Sri Lanka On The Verge Of Going Bankrupt This Year

This crisis isn't a sudden or new occurrence in Lebanon. Lebanon¡¯s ongoing economic crisis is deep-rooted in decades of corruption and mismanagement by the ruling class, along with a sectarian-based political system that thrives on patronage and nepotism.

The economic crisis has also resulted in severe shortages in fuel, which have led to crippling power cuts and hours-long waits at gas stations.

In 2021, the UN had estimated that 78% of Lebanese people live below the poverty line.

Meanwhile, Assaii has been jailed and reportedly started a hunger strike against his detention, according to local media of Lebanon.

Also Read; How Turkish Currency Lira's Crisis Is A Gain For Its Crypto Industry

For the latest financial news and interesting personal finance content, click here.

22/11/2024 19:10:39
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