Caretaker Prime Minister, Najib Mikati, on Tuesday said that the Lebanese government was currently examining a law regarding deposit recovery, with a priority for small depositors holding amounts less than $100,000.

‘The deposit recovery law will be finalized as soon as possible,’ affirmed Mikati, refuting recent claims circulating in Lebanese circles suggesting unfair treatment to smaller depositors.

During an interview with ‘Al-Sharq’ channel on the sidelines of the World Economic Forum in Davos, Switzerland, Mikati expressed bewilderment at recent assertions that the proposed law for repaying frozen deposits in banks would disproportionately affect major depositors, harming smaller ones. He clarified that it is entirely the opposite.

‘The International Monetary Fund has set some prerequisites for benefiting from its Extended Fund Facility program, including the approval of laws in the parliament. Key among them are laws restructuring banks and addressing the banking gap,’ Mikati explained, noting that ‘
once these laws are approved, Lebanon will be on the path to full recovery.’

Additionally, the Prime Minister noted that the Central Bank is considering unifying the currency exchange rate, taking into account the current state of banks.

Source: National News Agency – Lebanon