European Observatory Highlights Banking Reform Importance

The article discusses the importance of the Banking Sector Reform Law in Lebanon, considering it a necessary step to address the financial crisis that began in 2019. It emphasizes that the law aims to hold shareholders and investors accountable for their losses before burdening the public funds. The article also highlights the need to apply the law transparently and fairly, including determining the extent of the losses, recovering stolen funds, and distributing responsibilities in a way that prevents the burden from falling on depositors and citizens. Additionally, it underscores that the success of the reform depends on implementing clear procedures, recovering possible funds, and holding accountable those involved in illegal activities during the crisis, in order to restore trust in the banking sector and achieve financial justice.

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