This is Beirut, 30/12 10:45 - Reading : 3 minute(s)
Banks Israel Tehran United Nations USA
Iran's president urged his government to listen to the "legitimate demands" of protesters, state media reported Tuesday, after demonstrations by shopkeepers in Tehran over economic hardship. Shopkeepers in the capital shut their stores on Monday, after Iran's embattled currency hit new lows on the unofficial market. Photos from ...
Claudia Groeling, 29/12 19:30 - Reading : 7 minute(s)
Nawaf Salam International Monetary Fund Lebanon Banque du Liban Gap Law Banks
Lebanon’s cabinet on December 19 approved one of the most controversial pieces of legislation since the country’s financial collapse in 2019, adopting the so-called “Gap Law” in a narrow vote that has reignited public anger and raised serious concerns among economists, legal experts, and international observers. Backed by 13 ministers ...
This is Beirut, 26/12 14:35 - Reading : 1 minute(s)
A car-ramming and stabbing attack by a Palestinian man left two people dead in northern Israel on Friday, police said. The assailant killed a 68-year-old pedestrian in a hit-and-run and fatally stabbed a 19-year-old woman near a bus stop. The assailant was shot and injured by a civilian passerby while fleeing towards Afula. He was taken to a ...
This is Beirut, 25/12 18:00 - Reading : 2 minute(s)
Banks Damascus United States Syria Currency
Syria's central bank chief said Thursday that the country's currency would start to be replaced with a revamped version from January 1, as Damascus tries to relaunch its economy after emerging from the rule of ousted leader Bashar al-Assad last year. Improving the standing of the Syrian pound is among the greatest challenges for Syria's new ...
This is Beirut, 23/12 13:55 - Reading : 1 minute(s)
Lebanon Hezbollah Lebanese Forces Samir Geagea Banks Central Bank of Lebanon
Chief of the Lebanese Forces (LF) party, Samir Geagea, confirmed on Tuesday that LF ministers will vote against the Financial Regularization Law in the Council of Ministers, citing its failure to return depositors’ funds. In his remarks at the Graduates’ Body dinner at the party headquarters in Maarab, Geagea said, “the criterion is simple: ...
This is Beirut, 23/12 13:05 - Reading : 1 minute(s)
International Monetary Fund Lebanon Banks Central Bank of Lebanon Hezbollah
Nidaa al-Watan reported Tuesday that controversy persists over the leaked draft Financial Gap Law, amid claims that the International Monetary Fund (IMF) is dissatisfied and has raised reservations. While the draft is expected to be circulated to ministers ahead of a possible Cabinet vote, political and diplomatic circles cited by the newspaper ...
This is Beirut, 22/12 20:25 - Reading : 3 minute(s)
Lebanon Nawaf Salam International Monetary Fund Banks Central Bank of Lebanon Gap Law
The controversial financial Gap Law presented as key to resolving Lebanon’s enduring banking crisis that deprived depositors of their savings, topped discussions at Monday’s cabinet meeting, exposing differences among ministers. The session, attended by Central Bank Governor Karim Souaid, was adjourned and will resume Tuesday to ...
This is Beirut, 21/12 15:40 - Reading : 6 minute(s)
Lebanon Banque du Liban International Monetary Fund economy banking system banks
What the government presented as the ‘Financial Gap Law’ is not merely a piece of financial legislation; it is a text that lays the foundations for the post-adoption economic order. It does not conceal its objective but states it calmly: ending a crisis that has lasted for years instead of resolving it, writing off deposits instead of ...
This is Beirut, 21/12 15:05 - Reading : 5 minute(s)
Lebanon Economy Banks BDL Gap Law
Presented as a restructuring measure, the Gap Law organizes a methodical liquidation of the Lebanese banking sector. Behind complex technical mechanisms—loss hierarchy, balance-sheet cleanup, recapitalization—lies a clear political choice: to sacrifice banks to settle a public crisis that the state refuses to assume. This text does not reform ...
This is Beirut, 21/12 12:05 - Reading : 5 minute(s)
Banks BDL Lebanon Economy Gap Law
Wrapped in the technical language of financial restructuring, the Gap Law is presented as a necessary step to correct the imbalance of Lebanon’s banking system. Behind this rhetoric lies a far more serious reality: the legalization of a massive expropriation of bank deposits, in blatant disregard of property rights, legal certainty, and the very ...
Eleonore Stephan for Huna Lubnan, 21/12 09:05 - Reading : 3 minute(s)
At one of the darkest moments in Lebanon’s national life, Prime Minister Nawaf Salam is promoting a so-called “financial gap law” as a technical solution, while in reality it legalizes suffering and formalizes the confiscation of Lebanese citizens’ savings. The so-called “Kulluna Irada” law does not merely steal money; it also ...
This is Beirut, 20/12 18:05 - Reading : 5 minute(s)
Banks Lebanon Economy Gap Law IMF
Every financial crisis raises a central question: who should bear the losses? In a liberal economy grounded in responsibility, the answer is clear: those who decided, spent, borrowed, and ultimately failed. The Gap Law, however, offers a radically opposite answer. It methodically organizes the erasure of the Lebanese state’s responsibility and ...