Bou Saab says capital control law to be approved in next session
Deputy Speaker Elias Bou Saab announced Monday that the joint parliamentary committees are expected to approve the long-awaited capital control law in their next session.
“In principle, one session remains to approve the law and its amendments,” Bou Saab said after a session on Monday.
The draft law will still need to be approved by the 128-member parliament.
“We MPs will never agree to legislate any law that would write off the deposits,” Bou Saab reassured.
“It was clear today that the capital control will be finalized by the joint committees and will only take into consideration the rights of depositors,” the Deputy Speaker added.
According to TV networks, the law will allow transfers to outside the country for the exclusive purposes of education and medical care and will set a “minimum” monthly withdrawal amount of $800 for dollar accounts.
Source: Naharnet
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