The acting Governor of the Central Bank of Lebanon, Waseem Mansouri, confirmed that "the political authority will not make any decision to confront the public with the reality of losses exceeding 70 billion dollars; therefore, the temporary solution for them is to postpone the problem." He made these remarks during a meeting at the Central Bank attended by bankers and representatives of the private sector, organized by the LEADERS CLUB last Thursday. Mansouri granted those present "one to one and a half years to take necessary actions; otherwise, the losses we will incur will be tremendous, and we will not be able to stand on our feet afterward, putting Lebanon at an existential risk."
He revealed that he refuses to grant new banking licenses, preferring "to maintain the current banks to prevent depositors' funds from disappearing," indicating that "the state borrowed from depositors' money." Mansouri discussed the necessity of enacting a law that includes "distinguishing between legitimate and illegitimate deposits, eliminating exorbitant interest, and the need to recover funds from check traders, currency manipulators, and support funds."
