The National Bloc: Lifting Banking Secrecy is a Victory for the Reform Path

The approval of the Banking Secrecy Law in Parliament marks a pivotal step on the path of financial reform in Lebanon, something that would not have been possible without the persistence and steadfastness of the reformist team in the country, despite all the obstacles and pressures.

The approved amendments, particularly those allowing audit firms access to data, applying the law retroactively, and transferring decree authority to the Cabinet, are positive steps toward enhancing transparency and holding those responsible for the financial collapse accountable.

However, this step remains incomplete unless it is followed by other necessary reform measures, especially forensic auditing, restructuring of the banking sector, and the financial gap law. Most importantly, it must be accompanied by practical and transparent steps to fully enforce the state’s sovereignty over all Lebanese territory. There can be no effective reform without genuine sovereignty, and no future for Lebanon without both.