Capital control to restrict transfers to hospitalization, studies abroad

The joint parliamentary committees convened Tuesday to resume discussing the capital control draft law.

"We have specifically modified the needed exemptions in the capital control," Bou Saab said after the meeting.

He added that the overseas transfers will be restricted to medical procedures abroad and students who study at foreign universities.

An article related to local withdrawals hasn't been discussed yet. But the majority of the MPs are inclined to allow transfers for hospitalization purposes in Lebanon and abroad, Bou Saab said.

The committees will resume discussing the rest of the draft law articles after the holidays.

The capital control, a law required by the IMF to unlock aid for Lebanon, will be put aside once parliament approves it, pending the adoption of a comprehensive recovery plan.