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LEBANON'S BANKING SECTOR

Skepticism surrounds Cabinet’s approval of new BDL reforms

“We did some fine-tuning to rectify some flaws of the outdated credit and money code, and tried to put clear rules in place,” former Justice Minister Ibrahim Najjar says, “especially to some of the clauses that were ambiguous or insufficient.”

Skepticism surrounds Cabinet’s approval of new BDL reforms

Secondary entrance of the Banque du Liban in Beirut. (Credit: L'Orient Today)

BEIRUT — It’s been over two years since Lebanon reached a staff-level agreement (SLA) with the International Monetary Fund (IMF) to unlock a $3 billion aid package, contingent on the implementation of nine prior actions by the government. The...
BEIRUT — It’s been over two years since Lebanon reached a staff-level agreement (SLA) with the International Monetary Fund (IMF) to unlock a $3 billion aid package, contingent on the implementation of nine prior actions by the government. The...