Constitutional Council annuls amendments to Lebanon's banking reform law

Lebanon's Constitutional Council unanimously accepted the appeal filed by President Joseph Aoun and annulled Article 3 of Law No. 71 of 10 September 2026 amending the banking reform law, because it did not obtain the required majority in Parliament. The Council also annulled the phrase allowing travel bans on major shareholders and board members of banks under liquidation in Article 19, and the phrase granting bank employees protection from any judicial action or lawsuit in Article 27. The decision is to be communicated to the three presidents and published in the Official Gazette.