
The Attorney General at the Court of Appeal of Mount Lebanon, Ghada Aoun, in front of the Beirut courthouse, on May 4, 2023. (Credit: Mohammad Yassin/L'Orient-Le Jour)
The former attorney general at the Mount Lebanon Court of Appeal, Ghada Aoun, on Tuesday praised the statements made by Prime Minister Nawaf Salam, who advocated the day before for "lifting banking secrecy in order to implement financial reforms in Lebanon."
In a post on X, Aoun thanked the prime minister for demanding the implementation of a financial reform — a struggle which, according to her, has exposed her to "all kinds of false attacks" and even to "pathetic attempts" to have her condemned by the justice system.
Aoun also stated that "lifting banking secrecy is an essential priority for any genuine financial reform and a fair approach to the financial and economic crisis we are suffering from." Its strict application, she added, should lead to the incarceration of "most board chairmen of the banks." The magistrate also called for "radical measures" against banking institutions if they did not comply with the lifting of banking secrecy.
Tens of billions of dollars in deposits remain blocked by Lebanese banks, virtually bankrupt since the onset of the crisis that erupted at the end of 2019.
Salam on Monday advocated in favor of lifting banking secrecy to implement financial reforms in Lebanon and return depositors' money that has been blocked since 2019 in banks.
"The most natural entry point for financial reforms and to enable the restitution of deposits lies in lifting banking secrecy," Salam stated. He said that "banks must assume part of the responsibility and are required to increase their capital and restructure it," while highlighting the need to "preserve the state's assets and work for a different management of these assets that is more productive to revitalize all sectors."