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MP Ibrahim Kanaan announces finance committee's approval of Banking Reform Law ahead of General Assembly vote

28-07-2025 | 08:59

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MP Ibrahim Kanaan announces finance committee's approval of Banking Reform Law ahead of General Assembly vote

MP Ibrahim Kanaan announced that the Banking Reform Law was approved during a six-hour session of the Finance and Budget Committee.

He recalled the committee’s recommendation to the government last May to submit the Financial Recovery and Deposit Restoration Law, “which the government has yet to do.”

Following the session, Kanaan stated: “Depositors’ funds and accountability will not be sacrificed. Everyone knows how the money was wasted and how it was distributed between the government, the Central Bank, and the commercial banks.”

He added: “We affirmed the independence of the Higher Banking Commission from both political authorities and the banks, and depositors will be represented within it.”

Lebanon News

MP Ibrahim Kanaan

Approval

Banking Reform Law

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