Public Actions

Parliament approves amendments to the bank secrecy law

Date: 
Tuesday, July 26, 2022

Parliament approved amendments to the bank secrecy law, a requirement towards unlocking a potential $3 billion financial assistance package from the International Monetary Fund. The government tried to squeeze in the Banking Control Commission of Lebanon and the National Deposits Guarantee Institution within the list of bodies that can oblige banks to lift banking secrecy, but the assembled MPs voted against the measure. Prime Minister-designate Najib Mikati and Deputy Prime Minister Saade Chami explained during the Tuesday session that the measure was needed to implement the banking restructuring resolution.

Acting Bodies: 
Lebanese Parliament
Type: 
Laws
Categories: 
Fiscal measures
Impact: 
National
Status: 
Approved/ Ratified
Civil Society Response: 
Not applicable