Depositors demonstrate in Baabda, at the intersection leading to the presidential palace, ahead of a government meeting on the return of deposits, Dec. 22, 2025. (Credit: Mohammad Yassin/L'Orient-Le Jour)
Cabinet will continue is examination of a draft law on the distribution of losses and restitution of bank deposits on Tuesday, Information Minister Paul Morcos announced following Monday's meeting.
The draft law, which mainly concerns the deposits illegally frozen by the banking sector at the onset of the 2019 financial crisis, was put forward by Prime Minister Nawaf Salam, who met with President Joseph Aoun prior to the meeting.
Banque du Liban Governor Karim Souhaid was in attendance at the Cabinet meeting.
Salam assured ministers that the bill is "realistic and applicable," Morcos explained, and aims to "render justice to depositors and restart the recovery of the banking sector."
"The longer the adoption of this text is delayed," he added, "the more the confidence of citizens and the international community erodes."
Several ministers participated in drafting this text, including Finance Minister Yassin Jaber, Economy Minister Amer Bisat and Souhaid. Barring any surprises, these ministers are expected to vote in favor of the text.
Morcos presented a "comprehensive study" of the draft law during the meeting and proposed a formula for reconciling the demands of the banks, depositors and the state.
Salam, Jaber, Bisat: The 'theft trio'
Before the Cabinet meeting, around 50 demonstrators protested in Baabda from 1 p.m. against the bill.
"Nawaf Salam's government is legalizing the theft of deposits ... The theft trio: Nawaf Salam, Yassin Jaber and Amer Bisat," and "Our deposits are more important than the demands of the International Monetary Fund [IMF]," read signs held by protesters.
Several groups participated in the sit-in organized by "The Cry of the Depositors," including the Union of Lebanese Expatriate Depositors and the Solidarity Union of Depositors.
The Lebanese Army is deployed at the scene.
Speaking during the protest, Alaa Khorshid, a representative of "The Depositors' Outcry," accused Prime Minister Nawaf Salam and ministers Yassin Jaber and Amer Bisat of being "the number one enemy of depositors."
"They are giving in to the IMF's demands. The treasury bonds they plan to give to depositors are worthless," he said.
According to L'Orient Today's reporter on the ground, Zeina Antonios, some protesters came from Aley, Choueifat and Bint Jbeil.
"I worked all my life in the United Arab Emirates and lost everything. I beg for my money at the bank, mainly to pay for my sister's cancer treatment," said a woman from Bint Jbeil.
"I hope I can recover my money before I die. Some people have died in the past few years without being able to access their accounts," said Maroun al-Kamouh, a 75-year-old retiree.
Jamileh Fawaz, who spent thirty years in Canada before returning to Lebanon, said she lost all her savings. "I came back in 2017 and deposited my money here. This law will rob us even more. They should sell the gold reserves to return our money," she said.
Jacques Dib, 70, who came from Haret Sakher to join the protest, lamented the lack of engagement from depositors. "There are a million depositors in Lebanon, and only about 50 people are demonstrating today. I blame the judiciary more than the banks, because it did nothing to support us," he said.
The draft law, "in line with the IMF's demands overall," according to Salam, provides for the distribution of losses among the state, the BDL, commercial banks and depositors, whose number was estimated at nearly one million before the unprecedented economic collapse of 2019.
According to the text, small deposits of less than $100,000 will be reimbursed at their real value over four years, by monthly or quarterly payments, depending on the account holder's choice.
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