Lebanon’s Cabinet approved a draft law on Saturday focused on restructuring and regulating the country's banking sector.

Following a session that lasted over four hours, Information Minister Paul Morcos stated that the government plans to deliver a much-needed reform package within weeks to address Lebanon's economic challenges, especially the concerns of small depositors.

“In just a few weeks, we will roll out a reform package that Lebanon, its economy, and its banking sector—particularly small depositors—desperately need,” Morcos said.

He added that the government is now concentrating on drafting legislation aimed at addressing Lebanon's financial shortfall and restoring fiscal stability.

“The government is currently preparing a draft law to address the financial gap and restore fiscal order,” Morcos explained.

Morcos also noted that the government had previously approved a draft law to amend the banking secrecy law, a critical step toward ensuring greater accountability.

“The law passed today places a priority on safeguarding depositors' funds, with a particular focus on protecting small depositors,” Morcos concluded.