Michel Helou: Re-electing Kan'an harms depositors

The article discusses the re-election of Ibrahim Kanaan as the head of the Finance and Budget Committee in Lebanon, an event the author considers a black day for depositors and efforts toward financial reform. The author views this appointment as a continuation of a pattern that has impeded financial reforms, especially after the Constitutional Court invalidated provisions of a banking reform law that aimed to hold banks accountable and ensure justice for depositors. He emphasizes that this reflects the protection of private interests at the expense of depositors' rights and hampers the financial recovery plan after years of negotiations, thus placing the future of the Lebanese economy at a crossroads of sustainability.

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