Banking Association Pushes for Clarity on Gap Law
The article discussed the draft law regarding the financial gap in Lebanon, where members of the Banking Association affirmed that the crisis is systemic and primarily rooted in the central bank, not in commercial banks. They explained that the gap results from government policies, such as borrowing from the Central Bank and subsidizing goods. They also noted that the proposed law does not include a clear clause regarding the repayment of state debts. Additionally, they emphasized the need to clarify certain laws, especially the Central Bank’s right to use its gold reserves, and confirmed that the Parliament will review the figures and provisions before approving the law. There was also a reaffirmation of the importance of cooperating with the International Monetary Fund to address the deposit crisis in the country.
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