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The entrance to the main building of the Bank of Lebanon, Jan 8, 2026. (Credit: Philippe Hage Boutros/L’Orient-Le Jour)
Add as preferred on Google Banking reform has suffered a fresh setback after the Constitutional Council unanimously upheld an appeal by President Joseph Aoun, annulling Article 3 of Law No. 71, dated Sept. 10, 2026, which amends Lebanon’s bank recovery and restructuring law. It also struck out two phrases in Articles 19 and 27 concerning the power to impose travel bans and immunity for bank employees from legal proceedings. Read more Solidere faces two key tests: Extension to 2054 and shift to ‘fresh’ dollars The ruling, issued on Oct. 20, under Judge Tannous Meshleb, was based in part on a review of the appeal filed on Sept.22, the minutes of parliamentary debates and an audio recording of the session.It does not invalidate the law as a whole. However, by retaining the original wording of Article 3, it leaves unresolved a key dispute over the... You have reached your article limitStay informed about a Middle East in crisis.Subscribe for $0.5/month for the first 3 months. Subscribe now Log in This article is only available to L’Orient Today subscribers. Subscribe now Log in Create a free account to continue reading this article. You’ll also receive The Morning Brief, our must-read daily digest of Middle East news. Opt out anytime Email Address Password Email Address Password I would like to receive special offers from L'Orient Today as well as selections of the best articles. Register By creating an account, you agree to the terms and conditions of use and our privacy policy. Register Or register with: Facebook
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