Lebanese Finance Committee Chief Discusses Financial Reforms with French Presidential Envoy

In his office at the Lebanese Parliament, Ibrahim Kanaan, head of the Finance and Budget Committee, held a meeting with French presidential envoy Jacques de Lagougie and his accompanying delegation. The delegation included Francois Sporer, head of the economic section at the French Embassy in Beirut; Vincent DeDrie, financial advisor at the embassy; Kenza Quazzani, economic attaché at the French Embassy; and Mona Kamal, director general of committees. The discussions focused on Lebanon's financial and economic conditions as well as the ongoing structural reforms required.

The meeting addressed recent amendments submitted by the government to the law restructuring the banking sector. These amendments, requested by the International Monetary Fund, are scheduled for review by the Finance and Budget Committee in a session set for the coming Thursday.

Kanaan emphasized that the parliamentary council had approved the banking sector restructuring law on August 14, 2025, and that the current matter concerns new amendments to that law. He stressed that the foundation remains the approval of a government recovery plan that protects depositors' rights and is practically implementable in terms of financing and execution. This plan aims to ensure depositors recover their funds, which Kanaan described as a fundamental condition for restoring confidence in Lebanon's economy and financial sector.

He also regarded reaching an agreement with the International Monetary Fund as essential, provided it adheres to standards that do not negate rights and guarantee transparency and accountability.