Lebanese bank hostages freed after gunman receives partial payout of frozen funds

A hostage situation in a Beirut, Lebanon bank ended on Thursday after authorities agreed to grant the Lebanese gunman partial access to his frozen funds in exchange for releasing all six hostages.

Bassam al-Sheikh Hussein, 42, entered the Federal Bank of Lebanon branch in the Hamra neighbourhood of west Beirut with a firearm just before noon on Thursday, according to a security source.

“He demanded access to around $200,000 he had in his bank account. When the employee refused the request, he began screaming that his relatives were in the hospital. Then he pulled out the gun,” the source said.

The hostage situation ended after six hours when the bank agreed to give the man around $30,000, his sister and the head of a local banking association told local media. It was not immediately clear if the terms of the settlement included any criminal charges.

Lawyer Rami Olleik told reporters that “we are heading to the police station to put pressure for his release, as they promised — or we will escalate.”

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