Depositors protest at French embassy 'in rejection of interference' on Lebanon to impose Financial Gap Law

The 'Cry of the Depositors' group with the participation of Depositors’ Leagues, organized a protest in front of the French Embassy on Friday, “in rejection of French interference and pressure" on Beirut to "impose" the Financial Gap Law approved by the government.

In a statement issued by the group, the protestors denounced a pressure supposedly exerted by Paris on "MPs, officials, and the Lebanese government to impose approval of the so-called Financial Gap Law approved by the government, which constitutes a clear legalization of the theft of depositors’ funds and the write-off of their deposits."

Tens of protesters attended, raising placards against the "Financial Gap Law" draft that the cabinet approved in late December 2025 to address the over $80 billion banking sector shortfall from the 2019 collapse. The law proposes returning funds to depositors via monthly cash installments for accounts under $100k, while higher amounts face conversion to long-term financial instruments. The law aims to restructure the banking sector to meet IMF conditions, though it faces criticism for shifting losses onto depositors rather than banks and the state.

The protesters’ slogans targeted the four main architects of the draft law: the head of government, Finance Minister Yassine Jaber, Economy Minister Amer Bisat, and the International Monetary Fund (IMF), which believes the country has no realistic solution for repaying the entirety of approximately $80 billion in deposits.

During consecutive speeches, participants stressed that “national sovereignty is a red line, and no country, regardless of which, would be allowed to interfere in Lebanon’s internal affairs, particularly in a financial and livelihood-related file that affects the lives and dignity of more than one million Lebanese depositors.”

The protesters warned that “any continuation of external interference or political pressure to pass this unjust law will be met with popular movements and escalation in the streets, in defense of the legitimate rights of depositors.”

They also called on Lebanese MPs “to assume their national and constitutional responsibilities, refuse to submit to any external pressure, and work to protect depositors’ funds instead of legalizing their theft under any name.”