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Lebanon Debate
Salim Saafir, Ali Baba, 45 Banks Update
The news focuses on the issue of depositors' funds being stolen by Lebanese banks since 2019, as banks imposed withdrawal and transfer restrictions and prevented depositors from accessing their money. It clarifies that 45 member banks of the Banking Association were responsible for this. The article indicates that these crimes occurred following a decline in deposit inflows after warnings from the International Monetary Fund and the World Bank about Lebanon's fragile economy. The banks failed to take responsibility and insisted on refusing to disclose the fate of the funds. This resulted in the impoverishment of depositors and the lack of accountability for those involved, emphasizing the need for transparency and holding those who stole Lebanese people's money accountable.
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