BEIRUT - The 'Cry of the Depositors' group held a protest sit-in on Wednesday morning, in front of the Lebanese Parliament, to protest against the banking restructuring bill.

Adopted on Saturday by the government and now sent to the deputies, reports the state-run National News Agency.

During the demonstration, the group emphasized its "support for the principle of lifting banking secrecy," rejecting "the proposed bills," considering them as a new attempt to steal money. Its president, Alaa Khorchid, stated that the government "pays no attention to the issue of depositors, as if this matter, which affects lifelong incomes, is not a national issue par excellence."

The protesters, on their part, considered that the government's plan is "devoid of any effective and serious solution to address the issue of depositors." "What is proposed today is a fake restructuring (...) that ignores the rights of depositors, without a clear plan to recover the funds," highlighted one protestor.

The 'Cry of the Depositors' is expected to issue a statement on this matter Wednesday afternoon.

On Saturday, the Cabient adopted the banking restructuring bill in Lebanon, as banks continue to impose illegal restrictions on deposits in the wake of the economic crisis that struck the country in 2019. The government has recently submitted a new request for financial assistance from the International Monetary Fund (IMF), which expects the rapid adoption of the bill. The IMF also wishes for the Parliament to adopt the banking secrecy reform, already approved by the executive, so that it no longer constitutes an obstacle to the restructuring of the sector.