In an interview with Al Arabiya channel today, Monday, Saïd mentioned that the discussion will revolve around how to distribute losses between depositors, banks, and the government, and stressed that work is underway to develop a fair law that regulates the work of Lebanese banks and provides a clear legal basis for dealing with the crisis.
The statements of the Governor of the Banque du Liban are consistent with what was announced by Prime Minister Nawaf Salam, who confirmed that the government has developed a comprehensive legal framework to address the problem of bank deposits, with the aim of achieving justice for depositors and restoring confidence in the financial sector.
Salam explained that depositors with deposits less than $100,000 will receive their full deposits, while depositors with deposits exceeding this amount will recover $100,000 in cash, while receiving tradable bonds for the value of the remaining amount of their deposits without any deduction from the principal, through an organized mechanism that guarantees justice and financial stability.
The Prime Minister clarified that the recovery of deposits will be completed in a period not exceeding four years, stressing the government’s commitment to a clear and enforceable timeline, after years of stagnation and confusion in addressing this issue.
