The General Assembly of Lebanese Banks convened to make appropriate decisions following the issuance of State Council Decision No. 209/2023-2024 dated 6/2/2024, praising the principles established by the State Council's decision. It noted that "any negotiations conducted by the association or opinions issued regarding any draft law related to the restructuring of banks must be based on the following minimum points and cannot be reversed in any form without returning to the General Assembly: the draft must include a clear and explicit text that is not subject to interpretation or speculation stating that the current financial crisis in Lebanon is a systemic crisis."
The association emphasized that "the state must assume all its legal obligations, especially regarding covering the losses in the Balance Sheet of the Central Bank of Lebanon, which places the responsibility on the state and its central bank to return all deposits from the Central Bank to the banks so they can fully return them to the depositors."
Banks affirmed their ongoing commitment to the law, including the Lebanese Constitution, and to the applicable legal provisions.
