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Asharq Al-Awsat
Asharq Al-Awsat
World
Asharq Al-Awsat

Lebanon MPs Pass Second Attempt at New Banking Secrecy Law

13 October 2022, Lebanon, Beirut: Lebanese lawmakers attend a parliament session to elect a new president. Lebanon's parliament Speaker Nabih Berri postponed the session to 20 October after deputies failed for the second time to elect a new head of state. (Lebanese Parliament/dpa)

Lebanon's parliament on Thursday passed another round of amendments to a banking secrecy law after the International Monetary Fund said a previous draft retained key deficiencies.

The IMF has laid out a list of reforms, including amending its banking secrecy law, that Lebanon must implement before it can gain access to $3 billion to relieve its economic crisis, one of the worst in modern history.

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