One of the secondary entrances of the Bank of Lebanon, in Beirut's Hamra district. (Credit: L'Orient Today)
Last week, Banque du Liban (BDL) Governor Karim Souhaid criticized the draft banking resolution law before members of the parliamentary Finance and Budget Committee. Negotiations are ongoing, but now in a more subdued tone.Over the weekend, Prime Minister Nawaf Salam convened a meeting with Souhaid, Finance Minister Yassine Jaber and Economy Minister Amer Bsat, with the aim of aligning positions ahead of a session held Tuesday, May 13, by the ad hoc subcommittee formed by Finance and Budget Committee Chair Ibrahim Kanaan.In response to Souhaid’s intervention, Kanaan argued for a “pause” in the legislative process, a move that drew criticism from several MPs associated with the protest movement, who view it as yet another delay tactic intended to sideline them from the discussions.“The takeaway from both meetings is that 90 percent of the...
Last week, Banque du Liban (BDL) Governor Karim Souhaid criticized the draft banking resolution law before members of the parliamentary Finance and Budget Committee. Negotiations are ongoing, but now in a more subdued tone.Over the weekend, Prime Minister Nawaf Salam convened a meeting with Souhaid, Finance Minister Yassine Jaber and Economy Minister Amer Bsat, with the aim of aligning positions ahead of a session held Tuesday, May 13, by the ad hoc subcommittee formed by Finance and Budget Committee Chair Ibrahim Kanaan.In response to Souhaid’s intervention, Kanaan argued for a “pause” in the legislative process, a move that drew criticism from several MPs associated with the protest movement, who view it as yet another delay tactic intended to sideline them from the discussions.“The takeaway from both meetings is that 90...