Farid Al-Boustani supports IMF backing for banking law

An official statement from the Office of Deputy Fredi Al-Boustani announced that the International Monetary Fund's praise for the approval of Lebanon's bank restructuring law is considered a positive step that strengthens the country's reform position in the eyes of the international community. It emphasized that this law is crucial and reflects a shared political will between Parliament and the government. However, success depends on completing reforms, especially the study and approval of the Financial Stability Law, which is fundamental to establishing a fair mechanism for reimbursing depositors' funds and exiting the banking sector's state of paralysis. Al-Boustani also indicated his commitment to follow up on this issue and work with deputies to accelerate the completion of the law according to international standards, with the aim of restoring confidence in the banking sector, removing Lebanon from the grey list, and reaching a comprehensive agreement with the International Monetary Fund that ends depositors’ suffering and fully restores their rights.

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