Aoun releases bank restructuring law after parliamentary approval

The Lebanese Parliament approved the Banking Sector Reform and Restructuring Law, numbered 71, on September 10, 2023. The law aims to expand the powers of the Higher Banking Council and reduce the involvement of major shareholders in recapitalization. Its goal is to meet one of the International Monetary Fund's conditions for entering into a final agreement with Lebanon. Following this, discussions will begin on the Financial Gap Law, which is considered one of the most sensitive and controversial laws in the upcoming phase.

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