The legislative session of the Parliament concluded, having approved the law to lift bank secrecy after extensive discussion and amendments to each clause. Following the session, MP Ibrahim Kanaan indicated that "the retroactive effect of lifting bank secrecy to 1988 was approved, with a large majority supporting the President's request in his response to the law in its initial version." The decree No. 10016 was approved to amend certain provisions of the law issued on 3/9/1956 related to banking secrecy, Article 150 of the decree No. 13513 dated 1/8/1963 (Currency and Credit Law), Article 23 of the Law No. 44 dated 11/11/2008 and its amendments (Tax Procedures Law), and Article 103 of the legislative decree No. 144 dated 12/6/1959 and its amendments (Income Tax Law).
The session started at 5 PM and approved the proposed law referenced in decree No. 8935, amending Article 35 of Chapter One of Title II of the legislative decree No. 102 dated 16/9/1983 and its amendments (National Defense Law). The session began with MP Melhem Khalaf raising a procedural point about the necessity of sending the maritime boundary demarcation agreement to the Parliament for study and discussion. He stated, "We had requested to schedule a session to discuss the boundary demarcation, which is a comprehensive issue, and this agreement cannot be signed before being discussed and presented to Parliament, as there are concerning points that need addressing."
MP Gibran Bassil mentioned that in 2011, the government submitted a decree to the United Nations, and Lebanon signed a contract with Total, asserting that Lebanon cannot sign an agreement with the Israeli enemy and that there was a correspondence with the United Nations. MP Michel Moawad called for discussing the issue in Parliament, calling it "essential." Additionally, MP Nadim Gemayel asked President Nabih Berri to officially send the maritime boundary demarcation agreement with Israel to the MPs for their review, insisting that "this point cannot be overlooked.”
Berri responded that such discussions were inappropriate, to which Gemayel replied, "Can we know who will sign the agreement? It is my right to get an answer to this question." Berri responded, "And I know what I’m doing." MP Ibrahim Kanaan indicated during the legislative session that there are those willing to fight the IMF battles in Lebanon, stating that there has been no communication with it, although multiple meetings were held over two weeks to achieve the necessary amendments for lifting bank secrecy. He expressed his desire for the government to bring the reform laws that the country needs, saying, "We want reform, not destruction, and we want the rights of the people, not monopolists."
He added, "We demand a session to discuss with the government the required reform laws, which fall under the framework of capital control and other reform laws. We have been in contact with the IMF for two weeks, and there has been media speculation about bank secrecy, as if discussing another law and another committee and another parliament."
There was a discussion regarding the decree concerning the amendment of bank secrecy. For his part, Speaker Nabih Berri stated during the legislative session that the Finance Committee worked relentlessly and invested time and effort on lifting bank secrecy, mentioning that Kanaan held continuous meetings with the IMF to achieve reforms that suit Lebanon. He emphasized, "I don't act on anyone's order; I seek the interest of my country and bank secrecy must be lifted to prevent corruption."
MP Melhem Riachi of the "Strong Republic" bloc stated during the session that "the IMF sends beginners to assess our crisis, and I urge Mikati to send experienced individuals." Berri responded, "This statement is dangerous in Parliament!" Riachi replied, "Bank secrecy must be lifted to avoid corruption." Berri firmly responded, "I do not act on anyone's orders; I think of my country’s interest first."
The proposed law referenced in decree No. 8972 amending Article 17 of Law No. 153 dated 17/8/2011 (Military Academy Regulations in Lebanon) was also approved. Additionally, the proposed law referenced in decree No. 9640, requesting approval for a loan agreement from the World Bank worth $150 million for the implementation of the emergency response project to secure wheat supplies, was approved (only project materials).
