Prime Minister Nawaf Salam said the newly approved financial gap law represents a major step toward restoring depositors’ rights, stressing that the vast majority of depositors will recover their funds in full and within a clear timeframe.
Speaking after the Cabinet approved the draft law, Salam said depositors with accounts valued at less than $100,000 will receive their money in full, without any haircut, including accumulated interest, over a period of four years.
He noted that this category represents around 85% of all depositors, describing the measure as a core pillar of fairness in the recovery plan.
Salam rejected claims that the law is merely symbolic, saying the bonds included in the plan are “not promises on paper,” but are backed by $50 billion in assets held by the central bank.
He also emphasized that, for the first time, a financial gap law includes accountability and oversight mechanisms, dismissing accusations that it amounts to an amnesty for past wrongdoing.
Salam said the law explicitly requires the completion of the forensic audit and opens the door to accountability.
Acknowledging shortcomings, Salam said the law is “not perfect and has gaps,” but described it as an equitable step on the path to recovering rights.
The prime minister added that anyone who transferred funds abroad before the financial collapse by abusing influence or position, as well as those who benefited from financial engineering schemes or excessive revenues, will be required to pay compensation.
“People want honesty,” Salam said, adding that he is committed to transparency and not to “selling illusions.”
He warned that every day of delay further erodes people’s rights and undermines trust, stressing that he is not willing to compromise the confidence that has begun to be restored.
Salam concluded by saying there are no fixed projections for the country’s situation in 10 years, but that inaction today carries a direct cost for depositors and the broader economy.