The entrance of the Central Bank of Lebanon in the Hamra district in Beirut, Jan. 30, 2024. (Credit: Philippe Hage Boutros/L'Orient-Le Jour)
Are Lebanese political and banking leaders ready to accept a total lifting of banking secrecy in Lebanon, as demanded by the International Monetary Fund (IMF), with which Nawaf Salam's government began a new cycle of discussions almost two weeks ago?A bill to be discussed Thursday, March 27, in the Cabinet legitimately opens the path to this question. The text, which we have reviewed and whose authenticity has been confirmed by a source familiar with the matter, is supported by Finance Minister Yassine Jaber and is dated March 24, 2025. Read more BDL governorship: A looming showdown between Aoun and Salam? In terms of progress, the bill brings an expected change by allowing regulatory and control authorities — the Banque du Liban (BDL), the Banking Control Commission and the Deposit Guarantee Institute — to have direct access to...
Are Lebanese political and banking leaders ready to accept a total lifting of banking secrecy in Lebanon, as demanded by the International Monetary Fund (IMF), with which Nawaf Salam's government began a new cycle of discussions almost two weeks ago?A bill to be discussed Thursday, March 27, in the Cabinet legitimately opens the path to this question. The text, which we have reviewed and whose authenticity has been confirmed by a source familiar with the matter, is supported by Finance Minister Yassine Jaber and is dated March 24, 2025. Read more BDL governorship: A looming showdown between Aoun and Salam? In terms of progress, the bill brings an expected change by allowing regulatory and control authorities — the Banque du Liban (BDL), the Banking Control Commission and the Deposit Guarantee Institute — to have direct...