During the discussion of the Capital Control Law proposal in the joint committees meeting, the “Democratic Gathering” specified its position on the proposal.
First: It is surprising that 3 years have passed without a quick and specific approval of the Capital Control Law, and we recall here that party leader Walid Jumblatt and the Democratic Gathering bloc were the first to demand this law and no one responded to this demand at the time, and it is unfortunate that the discussion of the proposal today comes In response to the demands of the International Monetary Fund and not to the conviction of many officials, forces and blocs, and that any discussion on this issue does not take into account the guarantee of the rights of depositors and the reconsideration of the withdrawal ceiling remains incomplete and has no value and is rejected by us.
Second: “It is true that we affirm our keenness on what is left of the banking system, which is a basic pillar in our financial and economic system, but it is not acceptable to present the issue of protecting banks from being sued over the other rights of depositors to guarantee their deposits and withdrawals.
Third: Any agreement with the International Monetary Fund assumes:
Approval of the budget, and this requires unifying the exchange rate and resolving the issue of the so-called customs dollar.
Adoption of the economic recovery plan
C – The Banking Secrecy Law that the President of the Republic is required to sign.
Determining the maximum withdrawal amount of $1,000 per month, or its equivalent in Lebanese pounds, is totally unacceptable, unrealistic, and rejected.
He concluded: “Procrastination, procrastination and failure to address and resolve open files in light of the crisis the country is going through, and in light of a short legislative period separating us from the right to elect the presidency, is no longer acceptable. Just and balanced will not be taken into account in the absence of a practical plan and a clear program for financial and economic rescue, and this is a major sin once morest the homeland and the citizen, so they corrected themselves before it was too late.”
