Bou Saab: Capital control law on right track


The capital control draft law that is being discussed by the joint parliamentary committees is on the “right track,” Deputy Speaker Elias Bou Saab said on Wednesday.

“We have discussed the draft clause by clause and it needs drastic amendments in many points,” Bou Saab said after a committees session.

“The discussion is on the right track and today the third article related to the committee that will oversee the implementation of the law nearly consumed all the time,” Bou Saab added.

He clarified that the two pending items are “defining the new funds and the lawsuits filed against the banks.”

“I do not agree that the capital control law is against depositors’ rights and I will continue my main objective, which is carrying on with the discussions until the law is finalized by the joint committees,” Bou Saab went on to say.

He also noted that “a significant number of MPs have demanded that the law be returned to the government, refusing any discussion, as others consider that it’s too late while a third group want discussions with the necessary amendments.”

Comments 2
Thumb gebran_sons 30 November 2022, 19:40

Saab should know that unless you deal with the political risk Lebanon will remain bankrupt, a beggar nation, with no prospect of repaying people deposits. Enough assuming people stupid. Corruption always existed but that did not prevent Rafiq Hariri from putting Lebanon on the world map, rebuilding and making downtown Beirut the prime destination in the region, promoting innovative business, and investing in education and infrastructure. This was done with less resources than what has been wasted since 2019, or a fraction of what Bassil stole from power ministry leaving Lebanon in darkness. Hariri took Lebanon from civil war to a 3 star Michelin place. Hizbollah is the cockroaches in the menu destroying in months what took decades to build, ruining Lebanon reputation, isolating and bankrupting a nation, and installing a Basij culture foreign to Lebanon values. Unless this cancer removed, all is in vain.

Thumb natour 30 November 2022, 23:02

Capital control law now, a cruel joke.