LEBANON Trends and Developments Contributed by: Zeina Obeid and Lea Maalouf, Obeid & Partners
Obeid & Partners Stratum Building Omar Daouk Street Beirut Central District Lebanon
Tel: +961 1 36 37 90 Fax: +961 1 36 37 91
Email: info@obeidpartners.com Web: www.obeidpartners.com
For years, Lebanon has echoed Beckett’s Waiting for Godot: a nation caught in perpetual expectation of reform, stability and leadership. Much like Vladimir and Estragon awaiting a saviour who never comes, the Lebanese people have long endured and desperately waited for meaningful political, legal and institutional change. Yet, as the curtain rose on 2025, Lebanon appeared to be entering a new chapter of cautious optimism, and one could not help but wonder: is the wait finally over? After years of political paralysis and economic crisis, Lebanon entered 2025 with a renewed sense of direc- tion. The election of a new President, and the appoint- ment of a new Prime Minister, who served as the 27th President of the International Court of Justice, rekin- dled hope among the Lebanese citizens and signalled a potential turning point for the country’s governance and judicial framework. Recent judicial appointments took place, aiming to revitalise the bench and re-establish the independ- ence and credibility of the courts. As newly appoint- ed judges take office, the legal community waits to assess how this will impact the judiciary’s efficiency, integrity and public confidence in the months ahead. The momentum for reform extended beyond the cor- ridors of state authorities and into Lebanon’s legal community. The CIArb Lebanon branch hosted its flagship conference “Rebuilding Lebanon: Investment Framework, Business Opportunities, and Dispute Resolution”, in Beirut in June 2025. The event gath- ered national and international participants, with the
Prime Minister delivering a keynote speech highlight- ing that reform lies at the forefront of the government’s agenda, promising to restore trust in state institutions and uphold the rule of law. In a sign of renewed investor interest, Elon Musk expressed enthusiasm in Lebanon’s telecommuni- cations sector, which was reflected in the Cabinet’s decree granting Starlink a two-year licence to provide internet distribution services across Lebanon through satellites operated by Elon Musk’s SpaceX. Finally, Lebanon now looks ahead with anticipation to the upcoming visit of Pope Leo XIV, who is expected to arrive as a “pilgrim of peace” from 30 November to 2 December 2025, a visit that carries profound spir- itual and civic hope for a nation yearning for revival. Against this backdrop, we provide an overview of the major legal developments that have shaped Lebanon over the past year. Lifting Banking Secrecy On 24 April 2025, the Lebanese Parliament approved the draft law amending Article 7 of the Banking Secre- cy Law of 3 September 1956 and Article 150 of the Currency and Credit Law of 1 August 1963 (as amend- ed by Law No 306 of 2022), which was subsequently published in the Official Gazette as Law No 1 of 24 April 2025. This law was adopted by a majority of 87 members of the Parliament, marking what the Prime Minister described as a “necessary step toward the desired financial reform our government has pledged to achieve”.
608 CHAMBERS.COM
Powered by FlippingBook