Lebanese banks' restrictions on liquidity are fueling concerns among depositors who fear for their savings, despite government assurances that it is safe from the country's worst financial crisis since the 1975-1990 civil war.

The protests have gripped Lebanon since last October 17, which puts more pressure on the financial system, deepening a difficult currency crisis that prevents many importers from bringing goods, which pushes prices up, and increases fears of a financial collapse.

The response of banks - which restricted withdrawal limits for foreign currency and halted almost all transfers abroad - came to throw a lot of uncertainty over many depositors.

A retired 66-year-old - and his savings in foreign currency is the fruit of his work abroad for 17 years - said, "There is anxiety, great anxiety; if I have saved all my life to collect an amount and put it here, where will it go?"

"We are in a big crisis, and I'm very worried about my savings," he added.

The head of the Association of Banks in Lebanon described - in an interview with Reuters last week - the restrictions as a "barrier to protect the system" until things return to normal.

The Central Bank of Lebanon said deposits are safe.

But concern is growing. Restrictions on dollar withdrawals have been further tightened since they were introduced on November 1.

Blom Bank (one of the largest banks in Lebanon) has gradually lowered the maximum weekly withdrawal limit from 2,500 dollars to five hundred dollars this week for depositors whose accounts are less than one hundred thousand dollars.

At Bank Audi, the limit is $ 300.

Another depositor said, "I do not trust the government when it says that my money is safe in the banks, due to its lack of credibility; this is what we discovered."

"People withdraw money every week, to the extent that the bank allows them. The problem is that the banks do not know how long this crisis will last, so they take into account the desire to continue for the maximum possible time," said Marwan Mikhael, director of research at Blominvest Bank.

 Confused


, some depositors said they would withdraw the rest of their savings if they could, expressing remorse that they had not already done so.

"We are completely confused; I do not know what is safe and what is not," said one of the depositors, adding that the maximum weekly withdrawal amounting to five hundred dollars hardly covers his needs.

Another depositor had to prove that he needed to buy medicine for his mother in order to be able to withdraw a thousand dollars, "The bank makes you feel that you are begging for your money; I doubt that the Lebanese will return to putting their money in the banks," said another depositor.

The protests sparked anger from a ruling class, which the protesters see as plundering Lebanon.

In an already weak economy slowed, many companies have laid off workers or cut wages and hired part-time workers.

Lebanon has one of the highest levels of public debt in the world, and its foreign exchange reserves are expected to come under more pressure this week when the maturity of a $ 1.5 billion international bond comes.