The opening editorial of the monthly report issued by the Association of Banks in Lebanon (ABL) underscores the state's duty towards both its citizens and financial institutions.

Fadi Khalaf, ABL's Secretary-General, stresses the obligation of the state to address the concerns raised by the banking sector and depositors. These concerns encompass:

1. Ensuring accountability for the misuse of funds intended to support traders, sourced from others' deposits.
2. Guaranteeing equitable profit distribution without exploiting the labor of others.
3. Combating cross-border smuggling operations that deplete depositors' savings.
4. Stabilizing a currency whose true value has become apparent over time.

The report highlights the state's responsibility for deposit erosion, citing significant losses of $51 billion incurred by the Lebanese banking sector until 2020.

Additionally, the state is indebted to the Banque du Liban (BDL) to the tune of $16.5 billion.

The report underscores that BDL has misappropriated approximately $23 billion since the onset of the crisis, primarily in supporting smuggling, traders, and the Lebanese lira.

Furthermore, the absence of legislation preventing borrowers from benefiting at the expense of depositors has resulted in a staggering loss of $31 billion.

To sum up, the state is held answerable for the dissipation of over $121 billion out of the initial $124 billion deposited in banks as of October 17.