HE CALLED SEVEN REGULATORS AT MIDNIGHT. THE BANK HAD FIFTEEN THOUSAND RETAIL DEPOSITORS. HE MADE THEM WAIT UNTIL THE MARKETS CLOSED.
At midnight GMT, the doors to sixty-nine branches of Continental Arab Bank locked, rendering fifteen thousand retail depositors unable to access their funds. Thirteen minutes before the closure, a call confirmed that regulatory instructions had been received, ensuring no opportunity for frantic withdrawals. This decisive action, though necessary, left many innocent customers affected.
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