Lebanese economic reforms feature a new securitization law that shows off the new government's willingness to modernize its capital markets. However, industry sources say the new law is already in need of a revamp before it's ready to roll.

"The new law has been in parliament for five years before it was passed, and it was not substantially modified with the exception of one new paragraph at the end that covers Islamic ABS," said Iyad Boustany, vice president at BEMO Securitization.

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