Higher Banking Authority's broad powers

The article focuses on the extensive powers granted by Article 16 of the draft Banking Law Regulation Project to the Higher Banking Authority. These powers allow it to exercise authorities that go beyond regulatory functions to include executive, quasi-judicial powers, such as dismissing management, implementing measures like bail-in, and freezing deposits without clear judicial oversight. The legal study highlights the risks associated with concentrating such broad powers within a single entity, which could transform it from a tool for ensuring sector stability into a source of legal and banking risks. This poses a threat to restoring confidence in the banking system and the financial security of banks and creditors.

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