4 days ago
Lebanon MP backs Financial Prosecutor's plan to return depositors' funds
MP Farid Al-Bustani said that 'the decision of Financial Prosecutor Maher Shaito is sound and a first step towards rebuilding deposits and thus returning depositors' funds. It constitutes a fundamental clause in the law I submitted to Parliament.'
The National News Agency reported that Financial Prosecutor Maher Shaito issued a decision, 'based on current investigations, instructing natural and legal persons, including bankers, to deposit in Lebanese banks amounts equal to the amounts they transferred abroad during the banking and financial crisis that the country experienced, and in the same currency. The goal is to reintroduce these amounts into the Lebanese banking system within a period of two months, under the supervision of the Financial Public Prosecution and in accordance with the conditions it sets.'
Source: Elnashra
