BEIRUT, Lebanon, Dec 27, 2025 (BSS/AFP) - Lebanon's government on Friday approved a draft law to distribute financial losses from the 2019 economic crisis that deprived many Lebanese of their deposits despite strong opposition from political and banking officials. The draft law is a key demand from the international community, which has conditioned economic aid to Lebanon on financial reforms. It stipulates that each of the state, the central bank, commercial banks and depositors will share the losses accrued as a result of the financial crisis. France, which has repeatedly pledged support for Lebanon's efforts on economic reform, welcomed the passing of the law by the cabinet, calling it "an essential first step towards restoring the confidence of the Lebanese people in Lebanon's banking system". Parliament passed a banking secrecy reform law in April, followed by a banking sector restructuring law in June, one of several key pieces of legislation aimed at reforming the financial system.

Source: Bangladesh Sangbad Sangstha December 27, 2025 03:12 UTC