Deposits to be swapped
with interest-bearing bonds

To be tradable on the Beirut Stock Exchange

The Minister of Finance Yassine Jaber said that, as part of resolving the banking crisis, interest bearing bonds will be issued against 'lollar' deposits exceeding $100,000. The bonds will be tradable on the Beirut Stock Exchange. This will eliminate the current trading of checks.

“This has been practiced in other countries during crises, such as the issuance by banks of perpetual bonds in the United States,” said the Minister.

“The State owns plenty of assets, such as gold, real estate, and companies,” he said. The minister said that there is a liquidity problem today, but with time, solvency will improve.

The plan also allows the gradual withdrawal of deposits worth up to $100,000.