The logo of the International Monetary Fund (IMF). (Credit: AFP)
The restructuring of the banking sector continues to flounder. While parliamentary debates on the banking resolution bill are now confined to an ad hoc subcommittee, experts from the International Monetary Fund (IMF) issued a letter on May 13 to the government, which L'Orient-Le Jour was able to consult, highlighting 15 substantial observations. They particularly point out that some provisions of the bill do not align with internationally recognized principles in this matter. Read more Banking resolution: BDL faces a new dilemma Individual deposit handling and independence of guarantee instituteThe first concern is the methods of returning guaranteed deposits as envisioned in the draft law (Article 1). According to the IMF, the approach of aggregating all accounts of individual depositors across all banks to deduct the...
The restructuring of the banking sector continues to flounder. While parliamentary debates on the banking resolution bill are now confined to an ad hoc subcommittee, experts from the International Monetary Fund (IMF) issued a letter on May 13 to the government, which L'Orient-Le Jour was able to consult, highlighting 15 substantial observations. They particularly point out that some provisions of the bill do not align with internationally recognized principles in this matter. Read more Banking resolution: BDL faces a new dilemma Individual deposit handling and independence of guarantee instituteThe first concern is the methods of returning guaranteed deposits as envisioned in the draft law (Article 1). According to the IMF, the approach of aggregating all accounts of individual depositors across all banks to deduct the...