After Approval in the Parliament... Aoun Publishes Law on Bank Restructuring

President Joseph Aoun published today the law on reforming and reorganizing banks in Lebanon, which was approved by the Parliament and bears number 71 dated September 10.

According to the Lebanese Presidency, the law amends certain articles of Law No. 23 dated August 14, 2025.

The General Assembly of the Parliament had approved on August 12 the draft law aimed at amending the banking reform law, widely known in the media as the bank restructuring law, adopting most of the amendments proposed by the government, aligning in key aspects with recommendations from the International Monetary Fund.

Among the main amendments are expanding the powers of the Higher Banking Council and restricting participation of major shareholders in recapitalization. In contrast, the Parliament rejected amendments proposed by Central Bank Governor Karim Sayed to preserve the governor’s and central board’s authorities.

The approval of the law contributes to fulfilling one of the key conditions required by the International Monetary Fund, paving the way for a final agreement with the Lebanese state.

The next step toward completing the conditions for an agreement with the fund involves beginning discussions on the draft law on the fiscal gap in the Parliament, the most sensitive and controversial legislation.