Lebanese Prime Minister Najib Mikati said on Friday that Lebanon has presented the first comprehensive legal framework for recovering deposits and addressing the financial gap. Mikati explained: 'Depositors with deposits of less than $100,000 will receive this amount in full, over four years, and these represent 85% of depositors.' He added: 'This law may not be perfect, and it may not meet everyone's aspirations, but it is a realistic and fair step on the way to restoring rights and stopping the collapse.' The proposed financial gap law, a long-awaited and necessary measure for restructuring Lebanon's debt burden, defines how financial losses will be shared between the state, the central bank, commercial banks, and depositors.
