Kanaan calls for banking resolution law to be passed in Parliament Thursday

BEIRUT — The head of the parliamentary Finance and Budget Committee, MP Ibrahim Kanaan, said Wednesday that he hopes "the law on banking resolution will be passed during Thursday's session," in comments made to Radio Liban Libre and cited by the state-run National News Agency (NNA).

Parliament Speaker Nabih Berri has convened Parliament's General Assembly for a meeting on Thursday morning to "study the bills and proposed laws on the agenda," which is expected to include the long-awaited banking resolution bill, recommended by the International Monetary Fund and approved Monday by the Finance Committee.

Finance Minister Yassine Jaber told L'Orient-Le Jour on July 19 that he expected the bill to be put to a parliamentary vote before the end of the month.

"I have participated in all the meetings and all the working stages," Kanaan said, "in the subcommittees and then the Finance Committee, with all the parliamentary blocs and independents. We agreed on many, if not all, of the points, with some minor reservations that can be resolved."

"We were in favor of this law being adopted in parallel with the one on the reimbursement of deposits, to fill the financial gap," he added. "The Finance Committee made a recommendation to the government last May 7 to ensure this, but it has not been done."