On Friday, Lebanon’s Cabinet approved the Gap Law after a vote in which 13 ministers supported the measure and nine opposed it, according to official information.
Those who voted against the law included ministers from the Lebanese Forces, Hezbollah, and the Amal Movement, as well as Minister Adel Nassar and the Minister of Youth and Sports. According to reports, the Minister of Information conditioned his approval on the inclusion of amendments he said would protect depositors’ interests.
According to information obtained by MTV, several ministers called for caution during discussions, urging against rushing the law’s adoption in order to reach a version that could be effectively implemented. The report said discussions were held on each article, with more than one minister refusing to support the law without amendments.
In a statement after the Cabinet session, Prime Minister Nawaf Salam said, “85% of depositors will receive their funds in full, while the rest will recover their money, but not at the same pace,” noting that “there is no truth to what is being said about bonds that depositors would receive, and no one is selling or mortgaging gold.”
He added, “For the first time, we are approving a law that includes accountability and oversight, and it is shameful for some to claim that it is based on the principle of ‘forgive and forget.’”
The meeting was chaired by Prime Minister Nawaf Salam at the Grand Serail. The Director General of the Presidency of the Republic, Antoine Chkair, also attended the session.
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