Less than 1 percent of depositors, aka 16,000 accounts, control 50 percent of all customer deposits in Lebanese banks, according to the IMF. What’s more, <0.1 % of depositors, aka 1,600 accounts, hold 20 % of total deposits. 3.7% of deposits have balances greater than $100 million. If you ever had a doubt about the inequality in Lebanese society, now you know.

Unfortunately, the concentration of deposits in fewer accounts has grown between 2008 and 2015, signaling an increase in this inequality.

It is estimated that there are a bit more than 1 million depositors in Lebanon.

Because of the strict banking secrecy law of the country, it’s nearly impossible to know who are the largest depositors in the country.

Source: IMF, at end 2015/ The Daily Star