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Lebanon Constitutional Council invalidates bank reform law article
The Lebanese Constitutional Council has unanimously invalidated Article 3 of Law No. 71, which sought to amend the bank reform and restructuring law. The decision follows a challenge filed by President Joseph Aoun. The Council ruled that the article failed to secure the required parliamentary majority during the voting process, as the proposed amendment was not passed according to constitutional procedures.
This ruling preserves the original Article 3 of the primary bank reform law (Law No. 23 of 2025) but strikes down the recent amendments. The decision also invalidated specific phrases in Articles 19 and 27. Notably, the Council struck down a provision in Article 19 that allowed for travel bans via administrative decisions, ruling that restricting freedom of movement requires independent judicial intervention to protect constitutional rights.
The ruling reinforces the central role of the Banque du Liban (Central Bank) and maintains the legal framework of the Code of Money and Credit. It also aligns with previous judicial stances, such as those from the State Council, which assert that the state and the central bank share responsibility for the financial crisis and that depositors' rights and property cannot be erased by government decree without explicit legislative and constitutional guarantees.
Entities
Banque du Liban · Constitutional Council of Lebanon · International Monetary Fund · Joseph Aoun · Lebanese Constitutional Council · Lebanese Parliament · Lebanon
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The Lebanese Constitutional Council unanimously invalidated Article 3 of Law No. 71. ch23.com · dailynewslb.com · www.alsadaranews.com
- [○ 1 SOURCE] The invalidation does not extend to Article 3 of the original Law No. 23 of 2025. www.alsadaranews.com
- [○ 1 SOURCE] The Council invalidated a provision allowing travel bans via administrative decisions. www.alsadaranews.com
- [○ 1 SOURCE] The ruling maintains the authority of the Banque du Liban in the restructuring process. dailynewslb.com
- [○ 1 SOURCE] The State Council previously ruled that deposits cannot be canceled by government decree without legislative basis. dailynewslb.com
- [○ 1 SOURCE] Article 3 failed to obtain the necessary parliamentary majority during voting. www.alsadaranews.com
- [○ 1 SOURCE] The decision affects negotiations with the International Monetary Fund (IMF). dailynewslb.com
- [● 3 SOURCES] President Joseph Aoun filed the legal challenge against the law. ch23.com · dailynewslb.com · www.alsadaranews.com