The head of the Parliamentary Economy Committee, Representative Farid Al-Bustani, made a statement before the start of the session of the joint parliamentary committees devoted to studying the proposal for the Capital Control Law, in which he said:
“We, as an economic committee, want this law, but not this one. The Strong Lebanon bloc submitted a proposal in this regard, but it was not discussed. They sent a modified version, and we did not take an opportunity to study it.”
He added: “We do not want the banking sector to fall because it is the backbone of the economy in the country. My initial reading is that this law is the seizure of deposits, and banks do not exist without depositors. Their rights are gone, and all the circulars that were issued are disguised heretics for depositors’ deposits, and the support is gone and there are images of smuggling Instead of telling depositors that we will secure their deposits, especially for depositors with small and medium deposits, we tell them that they will pay the price, and the banks have transferred their money abroad.
He continued, “This is a conspiracy once morest depositors, especially small and medium ones. This proposal must not pass.”
He concluded: “The law must be re-examined in the Economics Committee, as it is not a financial decision, but also an economic decision, and the industry sector is the backbone of the economy. If we pass such a law, it means we hit the economy and I promise you that it will not pass.”
