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LEBANESE BANKS

Political, sectarian interests threaten banking reform plan

According to L’Orient-Le Jour sources, ministers from different parties are preparing to block the latest banking restructuring plan from being brought before the government.

Political, sectarian interests threaten banking reform plan

The Grand Serail, located in downtown Beirut, on April 28, 2024. (Credit: Mohammad Yassine/L'Orient-Le Jour)

The latest government plan for banking restructuring and resolution — currently being developed by a team led by advisor to caretaker Prime Minister Najib Mikati Nicolas Nahas — appears destined for failure. According to confidential information...
The latest government plan for banking restructuring and resolution — currently being developed by a team led by advisor to caretaker Prime Minister Najib Mikati Nicolas Nahas — appears destined for failure. According to confidential information...