Lebanon parliament approves changes to banking secrecy law

Lebanon parliament approves changes to banking secrecy law
Lebanon has long had strict rules over bank account privacy that critics have said makes it susceptible to money laundering. (AFP file photo)
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Updated 4 min 40 sec ago
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Lebanon parliament approves changes to banking secrecy law

Lebanon parliament approves changes to banking secrecy law
  • The international community has long demanded major fiscal reforms to unlock billions of dollars in aid to restart the Lebanese economy
  • The crash since 2019 has seen the local currency lose most of its value against the US dollar

BEIRUT: Lebanon’s parliament on Thursday approved amendments to banking secrecy legislation, a key reform demanded by the International Monetary Fund, as Lebanese officials hold meetings with global finance institutions in Washington.
A statement from speaker Nabih Berri’s office said parliament passed amendments to “the law related to banking secrecy” and to monetary legislation.
The international community has long demanded major fiscal reforms to unlock billions of dollars in aid to restart the Lebanese economy in the wake of a five-year economic collapse widely blamed on mismanagement and corruption.
The crash since 2019 has seen the local currency lose most of its value against the US dollar and has pushed much of the population into poverty, with ordinary people locked out of their savings.
The recent war between Israel and Lebanon’s Iran-backed Hezbollah group has worsened matters, with the cash-strapped country now also needing funds for reconstruction.
Lebanese rights group Legal Agenda said the amendments allow “banking supervisory and regulatory bodies... to request access to all banking information without linking the request to a specific objective.”
These bodies will now be able to access information including customer names and deposit details, and look into possible suspicious activity, the group said.
Lebanon has long had strict rules over bank account privacy that critics have said makes it susceptible to money laundering.
The cabinet had approved the amendment earlier this month, saying it would apply retroactively for 10 years from the date of request.
That means it would apply to the start of the economic crisis, when bankers were accused of assisting influential individuals to transfer large amounts of money overseas.
Parliament’s approval comes with Finance Minister Yassine Jaber, Economy Minister Amer Bizat and new central bank governor Karim Souaid in Washington for meetings with the World Bank and IMF.
Jaber said earlier this week that parliamentary approval of the banking secrecy amendment would give a “boost” to the delegation’s meetings.
In April 2022, Lebanon and the IMF reached conditional agreement on a $3-billion loan package, but painful reforms that the 46-month financing program would require have largely not happened.
In February, the IMF said it was open to a new loan agreement with Beirut following discussions with the newly appointed Jaber.
The new government has pledged to implement other required reforms, and approved draft legislation on restructuring the banking sector earlier this month.


UK ends sanctions on Syria defense, interior ministries

UK ends sanctions on Syria defense, interior ministries
Updated 58 min 20 sec ago
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UK ends sanctions on Syria defense, interior ministries

UK ends sanctions on Syria defense, interior ministries
  • Sanctions against various media groups and intelligence agencies were also lifted
  • New Syrian government is aiming to persuade Western capitals that sanctions should be lifted

LONDON: The UK government announced on Thursday it was lifting sanctions that were imposed on Syria’s interior and defense ministries during the rule of the now-deposed Bashar Assad.
“The following entries have been removed from the Consolidated List and are no longer subject to an asset freeze – Ministry of Interior, Ministry of Defense,” the Office of Financial Sanctions Implementation said in a notice.
Sanctions against various media groups and intelligence agencies were also lifted, although Syria’s new rulers dissolved the Assad-era spy bodies in January.
Those targeted by the sanctions were “involved in repressing the civilian population in Syria” or had been “involved in supporting or benefitting from the Syrian regime,” said the notice.
The new Syrian government is aiming to persuade Western capitals that the militant origins of the rebels who toppled Assad in December, after 14 years in charge, are confined to the past, and that crippling international sanctions should be lifted.


Amnesty denounces Algeria over ‘alarming’ crackdown

Amnesty denounces Algeria over ‘alarming’ crackdown
Updated 24 April 2025
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Amnesty denounces Algeria over ‘alarming’ crackdown

Amnesty denounces Algeria over ‘alarming’ crackdown
  • Amnesty said the 23 were detained “solely for the peaceful exercise of their human rights”
  • Amnesty singled out accelerated judicial procedures, which it said did not give several detainees time for adequate defense

TUNIS: Amnesty International on Thursday denounced what it called a “crackdown on peaceful dissent” in Algeria in response to an online protest campaign.
“Algerian authorities have intensified their relentless clampdown on peaceful dissent through arbitrary arrests and unjust prosecutions leading to lengthy prison sentences,” the rights group said in a statement.
It said the authorities have arrested and sentenced at least 23 activists and journalists over their purported support for an online protest movement dubbed Manich Radi (which loosely translates as “I do not agree“).
The campaign, Amnesty said, was launched in December 2024 “to denounce restrictions on human rights and difficult socioeconomic conditions in the country.”
Amnesty said the 23 were detained “solely for the peaceful exercise of their human rights.”
Its regional director for the Middle East and North Africa Heba Morayef said: “The trajectory of suffocating online activism pursued by the Algerian authorities is alarming and must be reversed.
“Nothing can justify detaining and jailing people solely for having expressed dissatisfaction about political and socioeconomic conditions,” she added.
The crackdown coincided with the lead-up to the sixth anniversary in February of the pro-democracy Hirak movement.
Amnesty singled out accelerated judicial procedures, which it said did not give several detainees time for adequate defense.
Among several cases, it cited the March sentencing of activists Soheib Debbaghi and Mahdi Bazizi to 18-month jail terms for their ties to the “Manich Radi” movement.
Debbaghi was convicted of “publishing content harmful to national interest,” Amnesty said.
It urged the authorities in Algeria to “end their crackdown on peaceful dissent and stop punishing the legitimate exercise of the right to freedom of expression.”


Yemen’s leadership pushes for unity as political leaders meet to shape post-war transition

Yemen’s leadership pushes for unity as political leaders meet to shape post-war transition
Updated 24 April 2025
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Yemen’s leadership pushes for unity as political leaders meet to shape post-war transition

Yemen’s leadership pushes for unity as political leaders meet to shape post-war transition
  • The PLC is working to restore state authority in areas under government control while countering the influence of the Houthis
  • The president called for a renewed sense of unity among Yemen’s political forces, urging them to set aside divisions

DUBAI: Yemen’s internationally recognized leadership convened key political figures in Riyadh on Wednesday to rally support for a unified national strategy to shape the country’s postwar transition and rebuild state institutions after nearly a decade of conflict.

Chairman of the Presidential Leadership Council, President Rashad Mohammed Al-Alimi, met with leaders of the National Bloc of Political Parties — a coalition of major political groups — to discuss how best to coordinate efforts during the transitional period. The meeting was part of consultations with political forces throughout Yemen to prepare for what officials describe as a pivotal phase in the country’s recovery.

The PLC, formed in 2022 to unify anti-Houthi factions and guide the country toward peace, is working to restore state authority in areas under government control while countering the influence of the Houthis, who continue to dominate much of northern Yemen.

During the meeting, the president called for a renewed sense of unity among Yemen’s political forces, urging them to set aside divisions and work together to restore stability, deliver basic services and lay the foundation for long-term governance.

“This is a moment for collective leadership and national alignment,” he said, stressing the importance of shared responsibility in rebuilding the state.

The national bloc reaffirmed its commitment to the PLC’s vision, presenting a political roadmap focused on national cohesion, economic recovery and effective governance in liberated areas. The group also underlined the importance of alleviating humanitarian suffering and accelerating institutional reforms.


Istanbul residents spend the night outdoors after a strong earthquake and aftershocks

Istanbul residents spend the night outdoors after a strong earthquake and aftershocks
Updated 24 April 2025
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Istanbul residents spend the night outdoors after a strong earthquake and aftershocks

Istanbul residents spend the night outdoors after a strong earthquake and aftershocks
  • The magnitude 6.2 quake tremor that struck Wednesday deeply impacted the city of 16 million residents
  • There were no reports of serious damage but the temblor prompted widespread panic and scores of injuries

ISTANBUL: Many Istanbul residents spent the night outdoors, too fearful to return to their homes, following a strong earthquake and over 180 aftershocks.
The magnitude 6.2 quake tremor that struck Wednesday deeply impacted the city of 16 million residents, leaving many inhabitants shaken and wary of a possible more destructive tremor. There were no reports of serious damage but the temblor, the strongest felt in Istanbul in recent years, prompted widespread panic and scores of injuries.
The earthquake had a shallow depth of 10 kilometers, according to the United States Geological Survey, with its epicenter about 40 kilometers southwest of Istanbul, in the Sea of Marmara. It was felt in several neighboring provinces.
At least 236 people were treated for injuries they suffered while trying to jump from buildings or for panic attacks. Most of the injuries were in Istanbul, where residents remain on edge because the city is considered at high risk for a major quake.
In fear of a stronger earthquake that could demolish homes, residents sought refuge by sleeping in their cars or setting up tents in parks and other open spaces. Many lit campfires to keep warm after the temperature dipped.
Turkiye is crossed by two major fault lines, and earthquakes are frequent.
For many, the memory of a devastating earthquake that struck 11 southern and southeastern provinces two years ago, remains vivid.
The 7.8-magnitude earthquake on February 6, 2023, claimed more than 53,000 lives and destroyed or damaged hundreds of thousands of buildings. Another 6,000 people were killed in the northern parts of neighboring Syria.
The Turkish disaster and emergency management agency, AFAD, said Wednesday’s earthquake was followed by 184 aftershocks – seven of them of a magnitude 4 or stronger.
Environment, Urbanization, and Climate Change Minister Murat Kurum stated that authorities had received 378 reports of structural damage in various buildings. At least 12 buildings had been evacuated as a precautionary measure, he said.
Only one building – a derelict, long-abandoned structure in the city’s historic Fatih district – collapsed.
Germany’s GFZ seismological research institute said the earthquake was the strongest in the area in over 25 years and extended the fault zone toward Istanbul.
The institute said the development presented two possibilities: either the region could experience a temporary decrease in seismic activity, or the stress caused by the earthquake could lead to a more destructive tremor.
“The area beneath the Sea of Marmara south of Istanbul is the only area of the entire plate boundary that hasn’t generated a strong earthquake in over 250 years and is therefore overdue for an earthquake with a magnitude of up to 7.4,” the seismology center said.


Jordanian military foils attempt to smuggle drugs using a drone

Jordanian military foils attempt to smuggle drugs using a drone
Updated 24 April 2025
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Jordanian military foils attempt to smuggle drugs using a drone

Jordanian military foils attempt to smuggle drugs using a drone
  • The drone was intercepted and brought down, and the seized narcotics were handed over to the authorities for further investigation

DUBAI: The Jordan Armed Forces on Wednesday evening announced that it had foiled an attempt on the southern border to smuggle narcotics into the country using a drone.

A military source from the General Command told Petra news agency that Border Guard Forces in the southern military zone, in coordination with military security agencies and the anti-narcotics department, detected and tracked a drone attempting to cross into Jordanian territory.

The drone was intercepted and brought down, and the seized narcotics were handed over to the authorities for further investigation.

The source reaffirmed the Jordan Armed Forces’ commitment to using all its capabilities to prevent any form of infiltration or smuggling, emphasizing the military’s ongoing efforts to protect Jordan’s security and stability.