Beirut: The Cabinet wrapped up its session after approving the explanatory memorandum for the draft law to restructure Lebanon’s banking sector, scheduling another meeting for Friday, and Saturday if needed, to finalize the legislation.

According to National News Agency – Lebanon, Minister of Information Paul Morcos said the government had taken an initial step by adopting proposed amendments to the banking secrecy law, a move aimed at paving the way to address the country’s financial gap.

Morcos further stressed the importance of parliamentary approval of both the banking secrecy amendments and banking reform law to put Lebanon on the path to recovery.