Constitutional Council dismisses article 3 of bank reform law
The Constitutional Council issued a decision invalidating a provision in Lebanon's Banking Reform Law. I confirm that Article 3 of the law did not receive the required majority in the parliamentary vote, leading to its annulment. The Council also invalidated a clause related to travel bans on bank debtors and shareholders, arguing that restrictions on personal freedom should only be issued with an independent judicial approval to ensure the rights of defense. Allowing administrative authorities to impose travel bans without judicial decisions constitutes an encroachment on judicial powers. Additionally, the Council invalidated a provision that protects bank employees from any legal action while complying with their institutions' decisions, citing concerns about potential issues regarding the rights of those affected to seek judicial recourse.
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