Lebanese Parliament Passes Revised Bank Secrecy Law

The House of Parliament on Thursday approved in the first part of its legislative session at the UNESCO Palace additional appropriations for the 2020 state budget of approximately LBP 1200 billion with LBP 600 billion allocated to the social safety net, and LBP 600 billion to the remaining sectors, provided that a bill of LBP 300 billion will be allocated to the educational sector .

The Parliament also approved a law involving bank secrecy, provided that any relevant investigations will be limited to the Special Investigation Commission and the National Anti-Corruption Authority.

The House of Parliament endorsed as well a law proposal with a new appointments mechanism for first category employees in public administrations and for employees assuming higher positions in state institutions.

However, the MPs amended the aforementioned law by crossing out a phrase which gives ministers the power to add or change names for such positions. It is to note that this decision has been opposed by the Change and Reform Bloc MPs.


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