Parliamentary committees convene to discuss a nine-item agenda related to various draft laws in Beirut, Thursday, Aug. 2, 2018. (The Daily Star/Ali Fawaz, HO)
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The joint parliamentary committees Thursday agreed to create a subcommittee to explore the establishment of a sovereign wealth fund for Lebanon, Deputy Speaker MP Elie Ferzli said Thursday.Thursday's meeting of parliamentary committees was held at the invitation of Speaker Nabih Berri and included the committees of Finance and Budget; Administration and Justice; National Defense, Interior and Municipalities; National Economy; Trade, Industry and Planning; Agriculture; Tourism; Public Works and Transport; Energy and Water; and Information and Technology.According to the bill's text, an eight-member board of directors appointed by the Cabinet would run the fund. Lebanon's housing loan crisis began in February when the Central Bank stopped offering subsidized loans due to a lack of funds.
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