European Observatory Urges Bank Law Reforms

The European Observatory for Integrity in Lebanon condemned the review of the banking restructuring law, emphasizing the need for independence of regulatory and monetary institutions, transparency in legal amendments, and protection of depositors' rights. It pointed out that the restructuring of the banking sector must be comprehensive, ensuring a fair distribution of losses and based on clear accountability principles to strengthen confidence in the Lebanese financial sector. Additionally, it is crucial to avoid conflicts of authority and to ensure transparency in both legal and financial review processes.

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