Geagea urges swift action on financial recovery legislation

All Lebanese have long awaited a resolution to the financial and banking crisis

Lebanese Forces Party leader Samir Geagea issued a statement on Wednesday as Parliament’s Finance and Budget Committee begins discussions on the draft law for bank restructuring.

Geagea stressed that the Strong Republic bloc will “vigorously engage in debating the articles of the bill and work with other blocs to finalize and pass it as swiftly as possible.”

He also called on the government to expedite the submission of the draft law on financial regularization and the financial gap to Parliament, noting that the bank restructuring law cannot take effect without the enactment of the complementary legislation.

“In fact,” Geagea added, “it would have been preferable for the government to submit the financial regularization bill earlier, so that necessary amendments could be made to the bank restructuring law in light of its provisions.”

Geagea concluded by emphasizing that “all Lebanese have long awaited a resolution to the financial and banking crisis. No practical progress can be achieved on this front without the immediate adoption of the financial regularization and gap law.”