MP Darwich: There is no alternative to current "Capital Control" law

Lebanon News
13-04-2022 | 03:55
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MP Darwich: There is no alternative to current "Capital Control" law
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MP Darwich: There is no alternative to current "Capital Control" law
MP Ali Darwich said on Wednesday that "today’s parliamentary committees session will determine the fate of the "Capital Control" law and whether some blocs were convinced of its importance to protect depositors' funds after making some amendments.
 
Darwich’s comments were made during a radio interview whereby he noted that the government played its part, but “contradictions rest in the Parliament.”
 
He stressed that there is no alternative to the current "Capital Control" law that helps depositors and banks to get through the current period. 
 
"There is no doubt that we were late in approving it, and it should have been approved since day one as it is necessary to reduce losses,” he added.

He considered that the doors of the Gulf countries are now open to Lebanese officials, including Prime Minister Najib Mikati, who will make a Gulf tour in the next few days, including to Saudi Arabia.
 

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