Lebanon: Mikati Says Wants to Protect Small Depositors Not Banks

Prime Minister Najib Mikati speaks to reports at Baabda Palace. AP file photo
Prime Minister Najib Mikati speaks to reports at Baabda Palace. AP file photo
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Lebanon: Mikati Says Wants to Protect Small Depositors Not Banks

Prime Minister Najib Mikati speaks to reports at Baabda Palace. AP file photo
Prime Minister Najib Mikati speaks to reports at Baabda Palace. AP file photo

Lebanon's prime minister said on Saturday after a cabinet meeting convened to address judicial actions against seven banks that the goal was to protect small depositors not lenders.

"We are protecting institutions, not individuals," Najib Mikati told a news conference, Reuters reported.

Lebanese banks plan a two-day strike next week in protest at judicial moves against seven major lenders, a standoff that could bring more instability for a country mired in a financial crisis since 2019.

The banking association said the strike was a warning against what it called "the arbitrariness of some judicial decisions" - a reference to orders that have frozen the assets of seven banks since March 14 and banned six of their executives from travel.

Lebanon's banks have been paralyzed since the financial system collapsed in 2019 under the weight of huge public debts caused by decades of state corruption and waste, locking depositors out of their savings. It is Lebanon's most destabilizing crisis since the 1975-90 civil war.



Qatar and Jordan Pledge Support to Syria

23 December 2024, Syria, Damascus: Jordan's Foreign Minister Ayman al-Safadi (L) meets with Syria's new de facto ruler Ahmed al-Sharaa. (Petra/dpa)
23 December 2024, Syria, Damascus: Jordan's Foreign Minister Ayman al-Safadi (L) meets with Syria's new de facto ruler Ahmed al-Sharaa. (Petra/dpa)
TT

Qatar and Jordan Pledge Support to Syria

23 December 2024, Syria, Damascus: Jordan's Foreign Minister Ayman al-Safadi (L) meets with Syria's new de facto ruler Ahmed al-Sharaa. (Petra/dpa)
23 December 2024, Syria, Damascus: Jordan's Foreign Minister Ayman al-Safadi (L) meets with Syria's new de facto ruler Ahmed al-Sharaa. (Petra/dpa)

Qatar is ready to invest in Syria's energy sector and ports, the de facto Syrian leader Ahmed al-Sharaa said after meeting a senior Qatari official in Damascus on Monday, as his new administration widened contacts with Arab states.

Sharaa also received Jordanian Foreign Minister Ayman al-Safadi, the first Arab foreign minister to visit Damascus since the Hayat Tahrir al-Sham (HTS) toppled Bashar al-Assad two weeks ago. Safadi said Jordan was ready to help Syria rebuild.

The meetings further widened the diplomatic contacts of the new administration established after Sharaa's HTS, a former Al-Qaeda affiliate, led a decisive offensive that overthrew Assad after more than 13 years of war.

The end of Assad's rule has upended the geopolitics of the Middle East, dealing a major blow to his ally Iran and paving the way for other states to build new ties to a country at the crossroads of the region.

Türkiye, which long backed the Syrian opposition, was the first state to send its foreign minister to Damascus.

Qatar's Minister of State for Foreign Affairs Mohammed Al-Khulaifi flew into Damascus on Monday aboard the first Qatar Airways flight to land there since Assad was toppled.

Sharaa, speaking to reporters as he stood next to Khulaifi, said that they had discussed the challenges of the coming period, and that he had invited Qatar's Emir Sheikh Tamim bin Hamad Al-Thani to visit Syria.

"The Qatari side expressed its readiness for wide investments in Syria in many sectors, chief amongst them the energy sector in which they have great experience ... as well as the ports and airports," Sharaa said.

Khulaifi said Qatar, the world's third largest exporter of liquefied natural gas (LNG), would continue to "stand alongside our brothers in Syria at this time more than any other time".

"Syria and its people need support during this crucial phase which requires the concerted efforts of everyone, especially concerning the lifting of sanctions and the upcoming developmental projects," he said.

JORDAN WILL PROVIDE AID

Syria's stability is a key security concern for Jordan, which borders the country to the south.

Safadi said he agreed with Sharaa on cooperating to counter the smuggling of drugs and weapons from Syria to Jordan - a problem for years under Assad.

Safadi also noted that ISIS, with which Sharaa's group clashed earlier in the Syrian war, remained a threat.

"Our brothers in Syria also realize that this is a threat. God willing, we will all cooperate, not just Jordan and Syria, but all Arab countries and the international community, in fighting this scourge that poses a threat to everyone," he said.

"I focused on reconstruction efforts and Jordan will provide aid," Safadi said, adding that the new Syrian administration must have the opportunity to develop its plans.

There was no immediate statement from the Syrian side on the meeting.

Sharaa, who met senior US diplomats last week, severed ties with Al-Qaeda in 2016. He has said his primary focus is on reconstruction and achieving economic development and that he is not interested in engaging in any new conflicts.