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Lebanese Cabinet approves bank restructuring bill

12-04-2025 | 07:44

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Lebanese Cabinet approves bank restructuring bill

Lebanon's Cabinet approved a draft law to restructure the country's banking sector during a session on Saturday, marking a key step in efforts to revive the ailing financial system.

Information Minister Paul Morcos announced that the government is working to implement a broader package of economic and financial reforms "within a few weeks," with a particular focus on protecting small depositors.

Morcos said the Cabinet is also preparing a draft law to address the financial gap—a crucial measure to restore balance to the country's fiscal framework.

He noted that the government had previously approved a draft amendment to the banking secrecy law, calling it a necessary condition for accountability and transparency.

Highlighting a key feature of the restructuring bill, Morcos emphasized that depositors' funds—especially those of small account holders—would be prioritized and protected under the proposed law.

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