The proposed “financial gap” law would enable the full repayment of funds held in 782,000 bank accounts within four years, Finance Minister Yassin Jaber said, outlining for the first time a concrete timeline for compensating depositors whose savings have been frozen since the country’s economic collapse.

Speaking to Erem Business on the sidelines of the World Government Summit in Dubai, Jaber said parliament is expected to begin discussing the draft legislation this week or next, describing it as a decisive step toward resolving one of Lebanon’s most contentious financial issues.

“The financial gap law sets out a clear roadmap and specific deadlines for returning depositors’ money,” Jaber said. “Under the law, 782,000 bank accounts will be repaid in full over a period of four years.”

Lebanon’s banking crisis, which erupted in 2019, left hundreds of thousands unable to access their deposits after banks imposed sweeping restrictions amid a severe shortage of foreign currency. The issue has fueled public anger and deepened distrust in the financial system, while repeated political deadlock has delayed efforts to address the losses.

Jaber acknowledged that Lebanon had been slow to confront the problem.

“The country was late in finding a solution to the depositors’ funds crisis,” he said, adding that the current government has made the issue its top priority.

The minister did not provide detailed figures on how the repayments would be financed, but said the proposed law would establish a structured mechanism to determine losses in the banking sector and distribute the burden in an orderly manner.

He emphasized that the measure is designed to restore confidence in the banking system after years of turmoil.

“This law will help rebuild trust between citizens and banks and will pave the way for restructuring the banking sector,” Jaber said. “It is an essential step toward normalizing financial life in Lebanon.”

Beyond addressing depositor compensation, Jaber said the legislation would support Lebanon’s efforts to be removed from the Financial Action Task Force (FATF) gray list, which the country joined after its financial system increasingly shifted to cash transactions in the wake of the crisis.