BEIRUT (Enmaeya News) – Lebanon’s parliamentary finance and budget committee met on Wednesday to begin reviewing a long-awaited draft law aimed at reforming the country’s banking sector, following its recent approval by the cabinet.

The session, led by committee chair MP Ibrahim Kanaan, brought together nearly 50 members of parliament, Finance Minister Yassine Jaber, and banking sector representatives. Central Bank Governor Karim Souhaid was not in attendance, reportedly traveling abroad.

Although widely anticipated, the proposed legislation offers only a broad framework and fails to address key public concerns, including accountability for the financial collapse and the recovery of depositors’ funds, Kanaan said.

Lawmakers stressed that the reform bill must be paired with a long-overdue financial regulation—or 'clean-up'—law mandated by Article 37 of the draft. The measure, still pending in parliament, is considered crucial for protecting depositors’ rights and restoring trust in the banking system.

The committee urged the government to promptly present the missing legislation.

"Passing laws alone won’t restore trust,” Kanaan stated, emphasizing the need for concrete reforms, stronger oversight, and close coordination with the Central Bank and regulators to stabilize the sector.