A woman calling for the release from detention of Bassam Hussein, who held hostages in a bank last week in Beirut. AP
A woman calling for the release from detention of Bassam Hussein, who held hostages in a bank last week in Beirut. AP
A woman calling for the release from detention of Bassam Hussein, who held hostages in a bank last week in Beirut. AP
A woman calling for the release from detention of Bassam Hussein, who held hostages in a bank last week in Beirut. AP


In Lebanon, robbing your own bank now makes you a hero


  • English
  • Arabic

August 18, 2022

When Bassam Al Sheikh Hussein took several people hostage in a bank in the Lebanese capital of Beirut last week, unsurprisingly, people quickly gathered around the perimeter to watch as the drama unfolded.

What is surprising, however, was the crowd’s response. In footage captured by The National, many were sympathetic towards Mr Al SheikhHussein. His supporters chanted, “We are all Bassam” and “Down with the rule of the banks!”

Mr Al Sheikh Hussein’s actions were unlawful, and should not be condoned. He fired shots and told police he would kill the hostages and self-immolate unless he could access his $210,000 in life savings.

But much of public opinion in Lebanon has sided with him. He eventually walked away with $35,000, which he says will go to paying for his father’s urgent medical treatment. And fortunately, the hostages escaped uninjured.

On Friday, members of Mr Al Sheikh Hussein’s family were joined by supporters who blocked a road to protest against his detention, which they say was breach of the agreement that was made to end the standoff. One of his lawyers said he had been detained without a clear charge.

It is understandable that authorities feel the need to do something. If only they applied the same determination in pursuing those responsible for Lebanon's financial meltdown. For example, Lebanon's central bank governor, Riad Salameh, who is widely viewed as playing a key role in the economic dysfunction. Every time efforts are made to arrest him, he is nowhere to be found. In March, he was charged with money laundering and illicit enrichment.

On Tuesday, Mr Al Sheikh Hussein was released without charge. An image then circulated on social media of him with his unwell father.

In a normal situation, the arrest of someone who acted so dangerously would be uncontroversial. In a country as broken as Lebanon, however, his actions have been viewed by many not as criminal recklessness, but a desperate, last ditch attempt to save a family member. It is important to remember that he was attempting to take money that already belonged to him.

The crowds that have since thronged to support him redirect blame entirely towards Lebanon's corrupt elite. Since the economy's collapse in 2019, the political class has been widely condemned for causing the crisis and doing nothing to help the country.

The vast majority of the population, like Mr Al Sheikh Hussein, only have Lebanese banks to hold their money. But these institutions have imposed informal capital controls for years, greatly restricting the availability of hard currency. Instead, most can only access the Lebanese pound, which, since 2019, has dropped in value by a massive 90 per cent.

It's not just the economy. Mr Al Sheikh Hussein's ill father finds himself suffering in a fast-deteriorating healthcare system. Workers are striking over unpaid wages, medication is running low and thousands of highly trained staff are going abroad.

The crisis in Lebanon is turning the country's economy upside down. The story of a hostage taker turning into a Robin Hood-style figure shows that the very idea of criminality is changing, too, and that many view the law and those who uphold it as an integral part of the problem.

This time, reality is more absurd than legend. Mr Al Sheikh Hussein did not steal from the rich to give to the poor. He stole from himself to give to his father. He should not be lionised. But there is no hiding from the fact that his many supporters view the most dangerous thieves in today's Lebanon not as the ones that target Beirut's banks.

Rather, they are the tiny minority who have taken from everyone else.

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UAE currency: the story behind the money in your pockets
The specs

Engine: 6.2-litre V8

Power: 502hp at 7,600rpm

Torque: 637Nm at 5,150rpm

Transmission: 8-speed dual-clutch auto

Price: from Dh317,671

On sale: now

The specs

Engine: 6.2-litre supercharged V8

Power: 712hp at 6,100rpm

Torque: 881Nm at 4,800rpm

Transmission: 8-speed auto

Fuel consumption: 19.6 l/100km

Price: Dh380,000

On sale: now 

The specs
Engine: 3.0-litre twin-turbo flat-six

Power: 480hp at 6,500rpm

Torque: 570Nm from 2,300-5,000rpm

Transmission: 8-speed dual-clutch auto

Fuel consumption: 10.4L/100km

Price: from Dh547,600

On sale: now 

List of alleged parties
  • May 15 2020: Boris Johnson is said to have attended a Downing Street pizza party
  • 27 Nov 2020: PM gives speech at leaving do for his staff
  • Dec 10 2020: Staff party held by then-education secretary Gavin Williamson 
  • Dec 13 2020: Mr Johnson and his then-fiancee Carrie Symonds throw a flat party
  • Dec 14 2020: Shaun Bailey holds staff party at Conservative Party headquarters 
  • Dec 15 2020: PM takes part in a staff quiz
  • Dec 18 2020: Downing Street Christmas party 

Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.

Based: Riyadh

Offices: UAE, Vietnam and Germany

Founded: September, 2020

Number of employees: 70

Sector: FinTech, online payment solutions

Funding to date: $116m in two funding rounds  

Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices

Results

4.30pm Jebel Jais – Maiden (PA) Dh60,000 (Turf) 1,000m; Winner: MM Al Balqaa, Bernardo Pinheiro (jockey), Qaiss Aboud (trainer)

5pm: Jabel Faya – Maiden (PA) Dh60,000 (T) 1,000m; Winner: AF Rasam, Tadhg O’Shea, Ernst Oertel

5.30pm: Al Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel

6pm: The President’s Cup Prep – Conditions (PA) Dh100,000 (T) 2,200m; Winner: Mujeeb, Richard Mullen, Salem Al Ketbi

6.30pm: Abu Dhabi Equestrian Club – Prestige (PA) Dh125,000 (T) 1,600m; Winner: Jawal Al Reef, Antonio Fresu, Abubakar Daud

7pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m; Winner: Ashton Tourettes, Pat Dobbs, Ibrahim Aseel

7.30pm: Jebel Hafeet – Maiden (TB) Dh80,000 (T) 1,400m; Winner: Nibraas, Richard Mullen, Nicholas Bachalard

The specs

Engine: 3.8-litre V6

Power: 295hp at 6,000rpm

Torque: 355Nm at 5,200rpm

Transmission: 8-speed auto

Fuel consumption: 10.7L/100km

Price: Dh179,999-plus

On sale: now 

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RESULTS

Time; race; prize; distance

4pm: Maiden; (D) Dh150,000; 1,200m
Winner: General Line, Xavier Ziani (jockey), Omar Daraj (trainer)

4.35pm: Maiden (T); Dh150,000; 1,600m
Winner: Travis County, Adrie de Vries, Ismail Mohammed

5.10pm: Handicap (D); Dh175,000; 1,200m
Winner: Scrutineer, Tadhg O’Shea, Ali Rashid Al Raihe

5.45pm: Maiden (D); Dh150,000; 1,600m
Winner: Yulong Warrior, Richard Mullen, Satish Seemar

6.20pm: Maiden (D); Dh150,000; 1,600m
Winner: Ejaaby, Jim Crowley, Doug Watson

6.55pm: Handicap (D); Dh160,000; 1,600m
Winner: Storyboard, Richard Mullen, Satish Seemar

7.30pm: Handicap (D); Dh150,000; 2,200m
Winner: Grand Dauphin, Gerald Mosse, Ahmed Al Shemaili

8.05pm: Handicap (T); Dh190,000; 1,800m
Winner: Good Trip, Tadhg O’Shea, Ali Rashid Al Raihe

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

UAE players with central contracts

Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.

The specs
Engine: 2.0-litre 4-cyl turbo

Power: 201hp at 5,200rpm

Torque: 320Nm at 1,750-4,000rpm

Transmission: 6-speed auto

Fuel consumption: 8.7L/100km

Price: Dh133,900

On sale: now 

THE NEW BATCH'S FOCUS SECTORS

AiFlux – renewables, oil and gas

DevisionX – manufacturing

Event Gates – security and manufacturing

Farmdar – agriculture

Farmin – smart cities

Greener Crop – agriculture

Ipera.ai – space digitisation

Lune Technologies – fibre-optics

Monak – delivery

NutzenTech – environment

Nybl – machine learning

Occicor – shelf management

Olymon Solutions – smart automation

Pivony – user-generated data

PowerDev – energy big data

Sav – finance

Searover – renewables

Swftbox – delivery

Trade Capital Partners – FinTech

Valorafutbol – sports and entertainment

Workfam – employee engagement

Top Hundred overseas picks

London Spirit: Kieron Pollard, Riley Meredith 

Welsh Fire: Adam Zampa, David Miller, Naseem Shah 

Manchester Originals: Andre Russell, Wanindu Hasaranga, Sean Abbott

Northern Superchargers: Dwayne Bravo, Wahab Riaz

Oval Invincibles: Sunil Narine, Rilee Rossouw

Trent Rockets: Colin Munro

Birmingham Phoenix: Matthew Wade, Kane Richardson

Southern Brave: Quinton de Kock

MOUNTAINHEAD REVIEW

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57%20Seconds
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