The Lebanese president Joseph Aoun during his meeting with the Greek Prime Minister (out of frame) at their meeting at the Maximos Mansion in Athens, Aug. 31, 2026. (Credit: Illustrative photo by Angelos Tzortzini / AFP)
The law on bank reforms has not yet resolved the disagreements it was intended to help overcome. President Joseph Aoun lodged an appeal with the Constitutional Council challenging Article 3 of the law, according to media leaks on Wednesday. However, this move was reportedly made several days earlier. The disputed article sets out the law’s objectives of providing Lebanon with a framework in line with international standards for handling bank failures, ensuring the continuation of key banking activities, protecting deposits during restructuring and liquidation proceedings, and limiting the use of public funds. The dispute now centers on a reference to the Code of Money and Credit (CMC), which was introduced and later removed during the parliamentary examination.The scope of Article 70This is not merely a matter of wording. The dispute is...
The law on bank reforms has not yet resolved the disagreements it was intended to help overcome. President Joseph Aoun lodged an appeal with the Constitutional Council challenging Article 3 of the law, according to media leaks on Wednesday. However, this move was reportedly made several days earlier. The disputed article sets out the law’s objectives of providing Lebanon with a framework in line with international standards for handling bank failures, ensuring the continuation of key banking activities, protecting deposits during restructuring and liquidation proceedings, and limiting the use of public funds. The dispute now centers on a reference to the Code of Money and Credit (CMC), which was introduced and later removed during the parliamentary examination.The scope of Article 70This is not merely a matter of wording. The dispute...
