Parliament Speaker Nabih Berri surrounded by the Lebanese Executive Council (LEC) delegation, March 21, 2025. (Credit: Hassan Ibrahim/Lebanese Parliament)
Parliament Speaker Nabih Berri affirmed Friday that "all 128 deputies agree on the rights of depositors to recover the full extent of their assets," as the moment of truth approaches on this crucial issue of compensating depositors whose assets have been unlawfully blocked in Lebanese banks since the fall of 2019.
"Since the beginning of this crisis, I have stated that deposits are sacred," Berri declared. "Today, I reiterate that there is no issue on which political forces, especially the 128 deputies, agree more than on the right of depositors to recover the full extent of their funds."
Since the onset of the financial crisis in 2019, Lebanese bank clients have faced severe restrictions on accessing their assets. This situation results from losses due to decades of financial mismanagement and corruption. The current question is who should bear these losses, and a significant taboo is beginning to fall: Using state asset revenues to participate in the repayment of deposits over a defined period.
Berri was speaking as he received a delegation from the Lebanese Executive Council (LEC), led by Rabih al-Amin. The delegation presented the legislative leader with their vision, work programs and demands, including the preservation of the rights of expatriate depositors and the participation of the Lebanese diaspora in legislative elections.
"The diaspora, particularly in the Gulf Cooperation Council countries and on the African continent, is a wealth for Lebanon," Berri stated. "More than ever, today we have the responsibility to strengthen cooperation, build the best relations and consolidate trust with these countries that have always supported Lebanon through different periods and who, today, still express their full willingness to contribute to its reconstruction and recovery," he added, emphasizing "the importance for Lebanon to strengthen its relations with all brotherly Arab countries."
Notably, Berri received Acting Governor of Banque du Liban Wassim Manssouri and the new commander of the Lebanese Army, General Rodolphe Haykal, on Friday.