Diab assures the Lebanese that 90% of bank deposits ‘won’t be touched’

Lebanese cabinet meeting

Lebanon Prime Minister Hassan Diab reassured the Lebanese on Thursday that “over 90% of bank deposits will not be touched in any financial measures that will be taken.”

Lebanese cabinet meeting

As for when depositors can withdraw their money, Diab said Central Bank Governor Riad Salameh should be asked this question.

Diab was speaking during a Cabinet session at the Baabda Palace. He did not go into any details that back his assertion about the safety of the deposits , specially since there is a lot of talk about substantial haircuts .

Separately, the Cabinet approved three administrative appointments following a vote.

“Jackeline Butros has been named as human resources chief at the Civil Service Council, Ahmed al-Hajjar has been named an engineering inspector general and Mikhail Fayyad has been appointed as administrative inspector general at the Central Inspection Bureau,” Information Minister Manal Abdul Samad said after the session.

“No mechanism was followed in the appointments and they occurred according to the decrees in force,” she added, noting that five ministers voiced objections over the absence of a mechanism. She did not name them .

Lebanon’s Parliament Speaker Nabih Berri this week said people’s bank deposits were “sacred” and must not be touched. 

Berri called on Central bank chief Riad Salameh to confirm to the Lebanese people that their bank deposits are safe and will not be touched, but Salameh ignored the request and never responded. Salameh ‘s credibility has suffered greatly during the past six months since whatever he promised was never delivered according to financial observers