Yassine Jaber: Banking secrecy law to be approved soon, small depositors to be prioritized in government plan

Finance Minister Yassine Jaber expected that the banking secrecy law would be approved in Parliament within a few days.

Speaking to reporters in Kuwait, where he is attending meetings of Arab financial institutions, Jaber expressed confidence that the law will be approved soon, noting, "I expect it to be passed, if not tomorrow, then the day after."

He explained that Lebanon is currently negotiating with the World Bank on several loans, including establishing a fund for rebuilding infrastructure in affected areas.

He also pointed out that the World Bank has allocated $250 million as an initial amount for this fund.

He confirmed that the World Bank's condition in this regard is solely "reform."

He also highlighted that small depositors, whose deposits are below $100,000, represent 84% of depositors in Lebanon, with a total value of around $20 billion.

He revealed that the government is in the process of drafting a plan to address the issue of depositors and that it is "natural" for the plan to start with small depositors.

In response to a question about his expectations for Gulf assistance, he said, "Gulf countries have stood by Lebanon, and today, they are advising us to address our situation."