Acting Governor of the Central Bank of Lebanon, Wassim Mansouri, was a guest at the General Labor Union following his meeting with economic bodies. He met with the Union's leadership and a group of union heads, economic and legal experts, explaining the financial and banking realities, the issue of depositors, and potential solutions.
In his speech, the President of the Union, Bishara Asmar, stated: "It is important for us to clarify: 1- We do not condemn anyone, leaving it to the judiciary to decide, and we do not hold an individual responsible for the burden; we consider everyone accountable within the cooperation that has emerged between banks, the central bank, and the state. The state, through its executive bodies, bears the gap that has squandered billions. 2- We commend your wisdom, high administrative sense, adherence to the law, prudent governance, and insistence on applying the Law of Money and Credit in full, without equivocation or favoritism. There should be no funding for the state from depositors’ funds and all debts it claims are due. 3- We appreciate your insistence on reviewing and reforming circulars where necessary, attempting to start the path to emerging from a dark tunnel and absolute loss for depositors of any category, without classification, from inside and outside Lebanon. 4- We support your request for the enactment of reform laws that accompany your steps in restructuring banks, capital control, and the economic recovery line, and consulting with economic bodies, the General Labor Union, and other professional unions. 5- Your rejection of the support policies that have been adopted and maintaining support for medications for cancer diseases. 6- Your initiation of exploring ways to recover depositors’ funds. This is the crux of the matter.
All of this leads to a fundamental and essential question: Is there a plan to return these funds, and if so, how and when? Is there a ray of light or a glimmer of hope in this dark night?"
