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Finance and Budget Committee approves a draft law to allow the lifting of banking secrecy from some accounts
Proposed amendments to the banking secrecy law were approved by the government on April 14, and the bill was sent to the parliamentary committees for review, before finally being voted on in the Finance and Budget Committee on Monday. The draft law that would allow the lifting of banking secrecy from some accounts. The prerogative to do so would remain restricted to the judiciary, the National Commission for the Fight against Corruption, the Special Investigation Commission, the National Deposits Guarantee Institution and the tax authorities. The draft law will next be sent to Parliament, where it will be discussed and eventually voted on. Lifting banking secrecy is a key demand of the International Monetary Fund in its preliminary agreement with the Lebanese government.