Lebanon - April 2025

On 24 April, parliament passed a law easing banking secrecy rules, granting government bodies access to bank records dating back ten years; these data were previously beyond their reach. Under the new legislation, a wide range of actors including the central bank, banking regulators, accredited auditors, the judiciary, tax authorities, and the National Anti-Corruption Commission will be able to request and review financial transactions as far back as 2015. The reform, introduced in response to recommendations from the International Monetary Fund, aims to boost transparency by enabling authorities to better trace suspicious financial flows, detect money laundering, and uncover concealed assets. Investigations related to corruption and financial crimes are also expected to benefit, as prosecutors will now be able to gain access to a larger set of financial history records.

Sources: Annahar, Financial Times, LBC International, L’Orient Today, L’Orient Le Jour