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The Banking secrecy Act issued on September 3, 1956 and all articles referring to it shall be suspended for one year starting from the date of the publication of the law, with regards to the financial audits and/or criminal investigations which have been or shall be decided by the Government on the accounts of the Bank of Lebanon, the ministries, the independent departments, the councils, treasuries and public institutions irrespective of the nature of these accounts, for the objective of such scrutiny and for the exclusive benefit of those in charge of it, as stated in the decision of the Parliament at its session on 27/11/2020.
The effect of the suspension of the banking secrecy extends to all accounts that are implicated by the audits.
The provisions of the Banking Secrecy Act shall remain in force otherwise.
