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Lebanese Parliament approves banking secrecy law with a majority of 87

Lebanon Economy

24-04-2025 | 04:48

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Lebanese Parliament approves banking secrecy law with a majority of 87

The Lebanese Parliament has passed the banking secrecy law with a strong majority of 87 votes after amending Article 3.

The revised version of Article 3 now mandates the complete and unrestricted lifting of banking secrecy for the benefit of the Banque du Liban (BDL), the Banking Control Commission, and auditors or independent assessors officially appointed by these bodies.

The implementation details of this article will be outlined in a decree issued by the Cabinet based on a proposal from the Finance Minister, following consultation with BDL.

The law maintains a ten-year retroactive period during which account information can be disclosed, preserving a key accountability provision from previous drafts.

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