Perhaps there is no banking sector in the world that has experienced a drastic reversal of fortunes in terms of magnitude and speed as the Lebanese banking sector had. On the eve of October 17, 2019 the sector was rightly considered to be a prime pillar of the economy, enjoying solid solvency. But after two weeks of banks’ closure because of widespread street protests against the country’s corrupt and inept political establishment, the banks experienced upon their resumption of business by early November 2019 rapid runs on their deposits that dented confidence in the sector and threatened its solvency.
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Deposit in Lebanese banks