Warning Against Touching Deposits to Prevent Banking Collapse!

In the ongoing dispute between Deputy Prime Minister Saada Al-Shami and the Banking Association amid mutual accusations from both sides, economic expert Louis Hbeika noted that "losses should be distributed among the state, Banque du Liban, and the banks, and compensation for depositors by the state should occur after signing with the International Monetary Fund, and benefiting as expected from an amount of 4 billion dollars and 10 billion from CEDRE funds." He warned in an interview with "Anbaa" electronic that tampering with deposits would lead to the definitive destruction of the banking sector, rendering it unviable for the next hundred years. Hbeika stated, "No one expected the country to collapse in this way, as the reasons are multiple, from COVID-19 to the wrong policies of the governments." He expressed his concern that, in his opinion, the change is unclear amid a volatile dollar and the authority's inability to contain it and rescue the ship from sinking.