Lebanon Central Bank Plans Deposit Changes

Lebanon continues its negotiations with the International Monetary Fund regarding the draft law for restructuring the financial sector and recovering deposits, known as the "Financial Gap Law." The Banque du Liban has submitted substantial amendments to the government proposals, including reducing the guaranteed payout from $100,000 to $60,000 in the initial phase, extending the maturities of bonds granted to depositors with deposits exceeding $100,000 to 20-30 years, and expanding the use of the "Bail-in" mechanism to convert approximately $7 billion of deposits into bank shares. Sources confirm that implementing these plans requires significant financial contributions from the Lebanese government, as discussions ongoing around auditing bank accounts and sharing losses continue.

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