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الكتائب اللبنانية
Lebanese Central Bank modifies deposit recovery plan
Lebanon is seeking a solution to the issue of recovering deposits from the banking sector as part of negotiations with the International Monetary Fund. The Bank of Lebanon has submitted amendments to a draft law known as the "Financial Gap Law," including reducing the guaranteed payout from $100,000 to $60,000 and delaying its repayment, as well as extending the repayment periods for bonds granted to depositors with more than $100,000 in their accounts from 10 to 30 years. The bank also proposes expanding the scope of the "Bail-in" mechanism to convert part of the deposits into shares, with a condition of substantial financial participation from the Lebanese state to ensure implementation. Currently, negotiations focus on auditing banks' financial statements and sharing losses, with expectations of further modifications to the final version of the law.
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