Representative Ibrahim Kanaan responded to the statement issued by Prime Minister Nawaf Salam, in which he indicated that the draft financial gap law has been in the House of Representatives for 9 months, explaining that the government formula related to financial regulation and deposit recovery is still subject to review and amendment.
Kanaan’s media office said, in a statement, that the Parliament was informed by the relevant ministers, government representatives, and the Bank of Lebanon, that the formula referred by the government for financial regulation and deposit recovery, which faced significant local and international comments, is subject to governmental reconsideration and amendment, in coordination with the Bank of Lebanon and the International Monetary Fund, and based on the Fund’s observations.
The statement indicated that this matter was confirmed through correspondence with the government, the Bank of Lebanon, and the International Monetary Fund.
He added that what is required is to avoid a repetition of the legislative problem that led to the recovery of the banking restructuring bill twice, which reached the House of Representatives in its third edition, along with the 2026 draft budget, which preceded the financial gap bill by about 6 months, and the House was able in the end to approve them.
Kanaan called on the government to end its renewed discussions with the International Monetary Fund and concerned local parties, especially the Bank of Lebanon, and to inform the Parliament of the results of these discussions.
He explained that the Finance and Budget Committee began last June, and will continue to schedule the financial gap law as referred by the government, awaiting amendments to the transmitted formula.
Kanaan confirmed his clear recommendation, confirmed in the Parliament’s minutes and also announced, that the draft law should include the capabilities and final numbers necessary for implementation, which are determined by the results of the financial audit that has been awaited for years.
He stressed that the financial audit constitutes the cornerstone for determining the required numbers, and for rebuilding local and international confidence in Lebanon and its banking sector, by restoring the depositor’s rights.
The statement concluded by stressing that this clarification comes to prevent any confusion and put things into perspective.
