The Maronite Patriarch Bechara al-Rai and MP Ibrahim Kanaan. (Credit: National News Agency)
MP Ibrahim Kanaan stated on Friday from the Maronite Patriarchate headquarters in Bkirki that the bill on banking sector reform, currently under review by a parliamentary subcommittee, will be finalized "in the coming days."
"Strengthening the state requires real reforms, which we are working on and which will become increasingly visible by the end of the month," Kanaan said following a meeting with Patriarch Bechara al-Rai. "The trust of the international community cannot be restored solely by statements or promises, but by practical measures," he said, calling on the government to take "concrete steps," in particular by referring the bill on recovery of bank deposits to Parliament. "At the same time, the law on banking sector reform will be finalized in the coming days," he added.
The government approved this bill in April 2025. The international community has long demanded that Lebanon implement reforms to unlock billions of dollars in aid and revive its economy, following the 2019 financial crisis, which was attributed to waste and corruption.
This draft law is sparking heated debates in the subcommittee. At a meeting on July 19, a proposal submitted by Banque du Liban Governor Karim Souhaid, which sought to establish a dual-headed structure for the High Banking Authority instead of the single chamber initially planned by the government, caused a particular stir.
