Beirut: House Speaker Nabih Berri has announced a joint session for several parliamentary committees to be held at 11:00 a.m. on Wednesday, April 16, 2025. The session will involve the Finance and Budget, Administration and Justice, National Economy, Trade, Industry, and Planning committees to examine a draft law featured in Decree No. 103. This decree seeks to amend Article 7 of the 1956 Banking Secrecy Law and Article 150 of the Code of Money and Credit Law, which was last modified by Law No. 306 on October 28, 2022.
According to National News Agency - Lebanon, the proposed amendments aim to address specific aspects of banking secrecy and financial regulations that have been in place for several decades. The intention behind the amendments is to modernize the current legal framework to align with contemporary financial practices and international standards.
The joint session signifies the legislative body's commitment to revisiting and potentially revising critical financial laws. By bringing together various parliamentary committees, the session aims to ensure a comprehensive review and discussion of the proposed changes. The outcome of this session could have significant implications for Lebanon's financial landscape and regulatory environment.