The National Bloc: A Long-Overdue Reform

Nearly seven years after Lebanon’s financial collapse began, the passage of the Bank Restructuring Law marks an important step forward in the reform process, albeit a long-overdue one. The rejection of the Finance and Budget Committee’s amendments has also kept the law closer to the government’s original draft and international standards.

However, passing this law is not the end of the process. The next essential step is the adoption of a Financial Regularity Law (the financial gap law) that ensures losses are addressed and depositors’ rights are protected within a fair and transparent framework, with every party held accountable for its responsibilities.

Ultimately, the goal must be to address the consequences of the collapse, restore Lebanese citizens’ rights and confidence, establish the foundations of accountability and justice, and put Lebanon’s economy and state back on the path to recovery and renewal.