Finance Committee resolves Articles 3 and 13 dispute

The article discusses the controversy surrounding Lebanon's Bank Reform Law, particularly the amendments related to the powers and independence of the Central Bank and the Banking Control Commission. It clarifies that the International Monetary Fund has partially approved the amendments concerning Articles 3 and 13, but has not given final approval for the entire law, as disagreements remain over defining the authority of the Banking Control Commission and how it will coordinate with the Monetary and Credit Council. Additionally, it highlights that legal disputes and delays in resolving authority issues could expose the banking sector to crises and impact depositors' rights, who have been awaiting clear and swift reforms since 2019 to ensure the stability of their funds.

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تنويه: هذا ملخص تم إنشاؤه بواسطة الذكاء الاصطناعي

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