October 1, 2026
A partial appeal filed by President Joseph Aoun before the Constitutional Council regarding the banking reform law ignited political tension with Prime Minister Nawaf Salam, who was informed of the step as a surprise while he was in Washington, DC.
An informed source told the website that the appeal was submitted in complete secrecy about a week ago, and remained secret until the Prime Minister and Finance Minister Yassin Jaber were informed of it during their meeting with the International Monetary Fund delegation. The source explained that this timing confused the atmosphere of the meeting and raised questions among Fund officials about the seriousness of the Lebanese state in moving forward with the required reforms.
The Banking Reform Law, along with the Banking Secrecy and Addressing the Financial Gap Laws, is considered a fundamental pillar in the path of understandings with the International Monetary Fund. According to the source, the appeal revived the debate on legislation that the Fund considered a pivotal step, which may hinder the path of progress towards a final agreement, even if it did not lead to its cancellation.
The timing of the move had local political repercussions; The Prime Minister was not aware of the appeal in advance, which created in him a feeling that he was absent from coordination in a file of this importance, while the news had a more severe impact on the Minister of Finance, who made intense efforts to advance the financial understandings. This crisis climate was reflected in government work, as the Council of Ministers session that was scheduled in Baabda Palace was moved to be held in the afternoon in the Government Palace.
Regarding the backgrounds behind this step, the source did not rule out that an influential financial figure, who enjoys the support of the Governor of the Bank of Lebanon in this file, was behind the push to file an appeal, without revealing his identity.
Attention is currently turning to the Constitutional Council, which is authorized to decide on the constitutionality of the contested articles, as its decisions are expected to cast a shadow on the path of reforms and ongoing negotiations, especially in light of the close intertwining between the banking reform law and the files of banking secrecy and the financial gap.
