Justice Minister Adel Nassar has ordered the formation of a committee comprising judges, lawyers, and economists to implement reform measures aimed at removing Lebanon from the Financial Action Task Force (FATF) grey list, MTV reported. 

The committee, tasked with aligning Lebanon’s financial and judicial frameworks with the FATF action plan, is required to submit a report to the minister within 45 days. Its primary focus will be a comprehensive review of the FATF’s decision that placed Lebanon under special scrutiny.

In October 2024, the Paris-based FATF, the global watchdog on money laundering and terrorist financing, added Lebanon to its grey list, citing concerns over terrorism financing and the lack of judicial independence. The designation subjects the country to increased monitoring, further complicating its economic recovery.

Lebanon has been struggling with a financial crisis since 2019, exacerbated by political paralysis and a deteriorating security situation.

Reuters reported that the recent Israel-Hezbollah conflict had prompted the FATF to extend Lebanon’s deadline for compliance from 2025 to 2026, providing authorities with additional time to address the deficiencies that led to its grey-listing.