The State’s Abandonment of Its Right: Lebanese Trade Unions Demand Financial Justice for Depositors

Under the title “The State’s abandonment of its right and its failure to recover funds from the case of the Governor of the Banque du Liban, Riad Salameh, is considered a crime against depositors,” the General Federation of Lebanese Trade Unions, along with a number of civil society groups and depositors’ associations, held an exceptional press conference today, Thursday, to object to this failure.

In this context, the head of the General Confederation of Lebanese Trade Unions, Maroun El-Khouli, affirmed, “The conference was held in an emergency and exceptional manner, and it brought together groups from civil society and depositors’ associations. Our presence reflects our commitment and great interest in the future of Lebanon and the rights of depositors.”

In an interview with the “Lebanese Debate”, Al-Khouli said: “We have gathered today to work to restore the rights of depositors who have lost their deposits, and to strive towards achieving financial justice.”

He believed that “this meeting constitutes a valuable opportunity to develop plans and strategies aimed at recovering the looted funds and to issue a stern warning to the government in order to correct its decisions towards recovering the looted funds and compensating those affected.”

And he stressed that “today’s action expresses anger and resentment over this economic crime, which the government deals with in a strange and shameful way, as it turns against its interests and its citizens who trusted the banking system and the authority to protect their money and their financial future. This scheme is not to recover part of the looted money.

And he believed that “the violations and violations of the Governor of the Banque du Liban, Riad Salameh, of banking laws and his mismanagement of public and bank funds, led to the deterioration of the Lebanese economy, the collapse of the Lebanese pound, and the exacerbation of the financial and social crisis that the Lebanese people are suffering from.”

And calling for “a transparent and independent investigation into these financial crimes, including the role of Salameh and officials in previous and current governments in financial corruption, and demanding that those responsible for this crime be held accountable and brought to justice, and the stolen funds be recovered and those affected compensated.”

He also called on “the international community and human rights organizations to support us in our demands to uncover the truth and achieve justice, and to ensure the recovery of the funds of depositors who lost their deposits, so that we will work to increase international pressure on the Lebanese government by reporting the violations and violations committed and communicating with embassies and international organizations to urge them to intervene.”

He revealed that “the federation, in cooperation with a number of civil society groups and depositors’ associations, will work to form independent committees that include lawyers, financial experts and members of civil society to work on providing recommendations regarding the recovery of looted funds.”

In conclusion, Al-Khouli hoped that “the conference will be an opportunity for cooperation and exchange of ideas and initiatives, and that it will be the beginning of joint efforts that contribute to restoring the rights of depositors and achieving justice and the positive change that we aspire to.”