LAU Lecture Talk: Facing the Economic Crisis with Reforms and Regulations
The lecture, “The Economic Crisis and the Suggested Reform Regulations,” provided insights into Lebanon’s ongoing financial crisis and paths toward recovery. Dr. Abou Haidar discussed the newly enacted banking secrecy law, which grants specific independent auditors access to banking records to help combat corruption and facilitate reforms aimed at rebuilding trust in the financial system.
Drawing on his extensive experience with international organizations like the WHO and UNDP and as a lecturer at the Sagesse University and Saint-Joseph University, Dr. Abou Haidar emphasized the importance of establishing a proper framework to ensure fair competition and the accessibility and affordability of services for all socioeconomic groups.
On the recently ratified banking secrecy law, Dr. Abou Haidar added that parliament members are also addressing two additional laws related to the banking sector. He delved into IMF procedures, their implementation and the significance of the proposed reform regulations.
“This discussion of the LAU Lecture Talks,” stated Dr. Fakih, “aligns with our purpose to educate a generation mindful of the rights and responsibilities necessary to promote inclusivity and sustainable development, which serves the United Nations Sustainable Development Goals (SDGs).”