Jaber Urges Financial Gap Law for Bank Reform

Finance Minister Yasin Jaber confirmed that the Parliament's approval of amendments to the law on reforming and restructuring Lebanese banks is a crucial step in addressing the banking crisis. It is part of a comprehensive package of interconnected legislative reforms, including the law lifting banking secrecy and other regulations. He explained that the law aims to strengthen the regulation of the banking sector and underscores the need to complete studies on laws such as the Financial Gap Law to facilitate deposit recovery as soon as possible, given its vital role in defining mechanisms for handling losses, protecting depositors' rights, and restoring stability to the financial sector. While this reform represents an important step, completing the legislative process is essential to rebuild confidence in the financial sector.

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