This is Beirut 19/12 22:30 - Reading : 3 minute(s)
Under the guise of structural reforms demanded by the International Monetary Fund (IMF), the “Gap Law” currently being prepared in Lebanon is raising growing concern. Presented as a technical tool designed to bridge the country’s massive financial shortfall, this law is now seen by many experts as a mechanism allowing the state to evade its ...
LilianeMokbel 19/12 18:00 - Reading : less than a minute
The mindset behind the proposed “Gap Law” is one of liquidation. Targeting constitutionally protected assets will erode the country’s ability to attract investors.
This is Beirut 18/12 14:55 - Reading : 2 minute(s)
Lebanon International Monetary Fund USA Yassine Jaber Nabih Berri
The page “Lebanon Pulse” published on its X account a message purportedly from a “Shiite depositor”, addressed to Finance Minister Yassine Jaber. In the message, the author accuses the minister of having, in the past, incited members of the Shiite community in front of the US ambassador and called for their bombardment and removal of ...
This is Beirut 18/12 14:15 - Reading : 4 minute(s)
Central Bank of Lebanon International Monetary Fund Lebanon Banks Banque du Liban
The Central Bank of Lebanon (BDL) issued observations regarding the International Monetary Fund (IMF)’s recent comments on the financial gap bill. BDL described the IMF’s remarks as risky and inconsistent with accounting and financial standards, noting that there is no historical precedent in a systemic crisis where a state first erodes the ...
Mario Chartouni 18/12 12:59 - Reading : 5 minute(s)
Banks International Monetary Fund Lebanon Banque du Liban Hezbollah
For several months now, the so-called “Gap Law” (law on financial gap) has been presented as the key to resolving Lebanon’s banking crisis. Its proponents argue that it would help restore order to the financial system and pave the way for an agreement with the International Monetary Fund (IMF). But behind this technical ...
This is Beirut 18/12 12:40 - Reading : 4 minute(s)
Banks Central Bank of Lebanon Lebanon Banque du Liban Nawaf Salam
The following article, originally written on Thursday by Lebanon Debate, is reproduced here in full to highlight their analysis of the proposed financial gap bill and its potential impact on depositors and the Lebanese banking sector: “Once again, Nawaf Salam’s government is rushing to pass the financial gap law before the end of the year, ...
This is Beirut 18/12 12:10 - Reading : 2 minute(s)
Lebanon Banks International Monetary Fund
Lebanon Pulse published a sharply critical message from a depositor addressed to Nawaf Salam, Yassin Jaber, and Amer Bsat, accusing them of playing a central role in what the text describes as a conspiracy that began before 2019 and has culminated today with severe consequences for depositors and the banking sector. In the message, the author ...
Liliane Mokbel 17/12 13:00 - Reading : less than a minute
Lebnon Financial Crisis Gap Law
Is the Financial Black Hole a Smokescreen? Professor Jassem Ajjaka answers three key questions to uncover the economic and financial reality.
This is Beirut 15/12 11:35 - Reading : 1 minute(s)
Lebanon opposition BDL Banque du Liban Association of Banks
The Association of Banks in Lebanon addressed an open letter to the three presidents, as well as to all Lebanese citizens—particularly depositors—in which it expressed its opposition to the contents of the draft law on the financial gap, whose ninth version was recently leaked. The Association said that “the draft contains serious ...
Nadia al-Hallak for Houna Loubnan 13/12 20:12 - Reading : 6 minute(s)
Banks Central Bank of Lebanon Banque du Liban Middle East
Amid ongoing government debates over the draft law addressing the financial shortfall and the fate of deposits, concern is growing within economic and banking circles over the plan’s potential direction. Each new draft leak highlights a deep disagreement—over how losses should be allocated and the extent of the burden the state must shoulder ...
This is Beirut 13/12 16:30 - Reading : 2 minute(s)
Lebanon Banque du Liban Central Bank of Lebanon
Finance Minister Yassine Jaber’s recent statements stand out for his comparison of the Lebanese financial crisis with those in countries such as Greece, Cyprus, and Portugal. In this comparison, he is once again off the mark. In fact, Cyprus experienced only a conventional banking crisis, while Greece and Portugal faced financial crises ...
This is Beirut 13/12 14:30 - Reading : 2 minute(s)
Finance Minister Yassine Jaber did not mince words: “The banks will be the first losers” if the Financial Gap Law is enacted. And if the banks lose, depositors inevitably lose too. The draft law places the full burden of repaying deposits on the banks alone — a move that would inevitably destroy the Lebanese banking sector and wipe out ...