The Association of Banks in Lebanon (ABL) expressed hope Sunday that Prime Minister Nawaf Salam’s new government will launch a “reform agenda, in which ABL will participate so that Lebanon can regain its financial position in the region,” according to a statement carried by the state-run National News Agency (NNA).

The association began by congratulating Salam on forming his government, which was announced Saturday after weeks of political negotiations.

“This patriotic step is a source of hope for a better future in Lebanon and restores the international community’s confidence in the country,” ABL said. It commended the government’s “clear commitment” to “economic and financial reforms and to rebuilding the national economy” and urged it to address the root causes of the economic crisis that has gripped Lebanon since 2019.

The association also called on the government to “reposition Lebanon on the global financial map, which will lead to the restoration of the banking sector.” It concluded by expressing hope that the new administration’s efforts would mark “the beginning of a reform agenda, in which ABL will participate so that Lebanon regains its financial position in the region.”

After his appointment on Jan. 13, Salam vowed to combat corruption and cronyism and to pursue justice for depositors whose funds remain frozen in banks under illegal restrictions.