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Mikati Considers Withdrawing Some Proposed Laws

This Is Beirut

14 Feb 2024 at 19:09 Last modified on 14 Feb, 2024 at 19:10

Reports indicate that caretaker Prime Minister Najib Mikati is considering withdrawing the proposed financial discipline and bank restructuring laws, following a decision by the State Council.

Additionally, he has received calls from several ministers who refuse to participate in the upcoming session to discuss the law contrary to the State Council’s decision, posing a threat to the quorum required for the session to convene.

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State Council Prevents Government From Seizing Depositors’ Funds

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The State Council annulled on Tuesday a decision taken by the Council of Ministers in May 2022 as part of its financial recovery strategy. One of the articles of the strategy briefly provides for the outright elimination of “a large part of the Central Bank’s—that is, the state’s—commitments to banks.”