"What is happening in the streets expresses people's pain, but generalising corruption (charges) against everyone carries big injustice," Aoun said during a cabinet session.
Aoun added that the government must at least start by lifting banking secrecy from current and future ministers, his office said in a tweet.
His comments came as the Lebanese cabinet met at the presidential palace to discuss a reform plan put together by Prime Minister Saad Hariri in a bid to tackle the crisis that has driven hundreds of thousands of protesters to the streets.
Hariri's blueprint contains a series of reforms, which includes a 50 percent slash to the salaries of state officials, including the president, ministers and MPs.
The draft plan also includes a reduction in benefits for state institutions and officials, in hope to calm the protests which have been the biggest show of dissent against the ruling elite in decades.
Lebanon's debt-burdened economy has been sliding towards collapse in recent months, adding to the economic woes of a population exasperated by rampant corruption, the lack of job opportunities and poor services.
More than a quarter of Lebanon's population lives below the poverty line, the World Bank says, while the political class has remained relatively unchanged since the end of a devastating 15-year civil war in 1990.
Lebanon ranked 138 out of 180 in Transparency International's 2018 corruption index, and residents suffer chronic electricity and water shortages.
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