Finance Committee Approves Fast-Track Housing Loan Bill
Parliament’s Finance and Budget Committee, chaired by MP Ibrahim Kanaan, approved a draft law introducing a flat fee for expedited processing of applications at the Public Corporation for Housing.
Kanaan said the amended proposal, submitted by MP Simon Abi Ramia, aims to accelerate housing loan approvals and will be referred to Parliament’s next legislative session.
The committee also discussed amendments to notary fees and formed a subcommittee to prepare a revised draft.
Abi Ramia said applicants choosing the fast-track option would pay a LBP 100 million flat fee to have their files processed within four months, while the standard process would not exceed six months.
