Illustration: Bigstock/val-eric-go
On New Year’s eve, the Cabinet adopted a draft law in a bid to restore “financial order” and map out a path, albeit long and uncertain, toward repaying deposits frozen since 2019.At its core, the bill rests on a simple promise: Each depositor would receive up to $100,000 over four years.Beyond that threshold, repayments would come through bonds backed by Banque du Liban (BDL, central bank assets or by revenue from their possible liquidation. The maturities would vary by size. Ten years for deposits between $100,000 and $1 million, 15 years for deposits between $1 million and $5 million and 20 years for amounts above $5 million. In case you missed this one Financial gap law: Option to reimburse depositors with Lebanon's gold reserves on the table To reduce the overall cost, the plan also includes measures meant to “clean up” the...
On New Year’s eve, the Cabinet adopted a draft law in a bid to restore “financial order” and map out a path, albeit long and uncertain, toward repaying deposits frozen since 2019.At its core, the bill rests on a simple promise: Each depositor would receive up to $100,000 over four years.Beyond that threshold, repayments would come through bonds backed by Banque du Liban (BDL, central bank assets or by revenue from their possible liquidation. The maturities would vary by size. Ten years for deposits between $100,000 and $1 million, 15 years for deposits between $1 million and $5 million and 20 years for amounts above $5 million. In case you missed this one Financial gap law: Option to reimburse depositors with Lebanon's gold reserves on the table To reduce the overall cost, the plan also includes measures meant to “clean...
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