Joseph Aoun enacts three laws, including banking sector reform
The president also signed an amendment to certain provisions of Law No. 11/2025 concerning non-residential leases and another amending the granting of allowances to public school principals.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
LBCI
10 hours ago
- LBCI
Lebanon's showdown: Will the Lebanese army succeed in enforcing state control over arms?
Report by Nada Andraos, English adaptation by Karine Keuchkerian The Lebanese army is finalizing its plan to centralize weapons under state control and implement U.N. Security Council Resolution 1701 across the country, ahead of presenting it to the cabinet at the end of the month. According to LBCI sources, the plan will rely on military, financial, and timeline frameworks, supported by U.S. technical assistance and the backing of the ceasefire monitoring mechanism. The army's plan builds on the ceasefire agreement, which marked the start of an initial plan launched under Joseph Aoun, who was then commander of the Lebanese Armed Forces and is now president, focusing on the south of the Litani River. The next phase will extend across Lebanon. The timeline for the army to collect weapons by the end of this year could be extended to better match conditions on the ground. Financially, while the army and security forces await $1 billion annually over 10 years from international donors to strengthen equipment and personnel, U.S. support will continue at $150 million per year, alongside salary increases and an expansion of troops to 4,500 fully equipped personnel—or more, as implementation progresses. On the ground, the plan calls for enhancing military capabilities on land, in the air, and at sea. The air force will be strengthened for reconnaissance and aerial surveillance missions. The navy will be upgraded to secure coasts and territorial waters. On land, the plan will involve organizational restructuring and advanced training for units deployed south of the Litani, along the borders, and internally, in preparation for expanding the roles of all units tasked with reconnaissance, surveillance, and security operations to other areas. The plan is divided into three phases beyond the south of the Litani River: up to the Awali River, Greater Beirut, and the Bekaa. Each phase defines objectives and the arms to be collected, allowing for gradual and coherent implementation. The army's anticipated plan is expected to outline the operational and security requirements at a politically sensitive moment, though political backing and consensus are not guaranteed. In other words, by the end of August, the cabinet could face a difficult crossroads if it approves the army's weapons collection plan and insists on assigning the army to implement it on the ground, even without the approval of the Hezbollah-Amal Movement political duo.
L'Orient-Le Jour
12 hours ago
- L'Orient-Le Jour
Finance minister announces funds for the Higher Relief Committee and contractors' debts amid 2026 budget planning
Finance Minister Yassine Jaber made several announcements related to public finance topics, according to a statement published Thursday by his ministry following a Cabinet meeting dedicated to various files. The minister also chaired a meeting with the relevant senior officials "to examine the latest measures related to preparing the 2026 budget, so that it can be presented within the constitutional deadlines." To remain on schedule, the finance minister must submit the draft budget for the following year before the end of August, so it can be reviewed by the Cabinet and then sent to Parliament. Among the other announcements, the minister first indicated that an initial release of LL 200 billion from the public treasury would be allocated to the Higher Relief Committee "to begin repairing the damage in the southern suburbs of Beirut." He also said he had been authorized by the government to "sign a loan agreement with the World Bank for an amount of $250 million intended for the reconstruction of infrastructure in areas affected by the Israeli aggression against Lebanon." Jaber also said that the Cabinet approved Wednesday "a draft law aimed at opening a credit line in the 2025 budget to pay LL 12 million ($134) per month to all public sector retirees." He stated that "this measure, which still needs to be ratified by Parliament, is part of a process aimed at correcting the salaries and compensation of all current and retired public employees, in order to adapt them to living conditions and the state's financial situation, while maintaining balance and ensuring the dignity of employees in this sector." The minister said that the government approved a plan to settle debts owed to contractors carrying out work for the Council for Development and Reconstruction (CDR), an issue that regularly comes up for discussion. "These payments will be staggered annually in installments agreed upon financially and temporally, after years of freeze on this issue, which had blocked several vital projects," the minister said, specifying that this plan was "the result of an agreement between his ministry, the CDR, and the public works contractors' union."
L'Orient-Le Jour
14 hours ago
- L'Orient-Le Jour
Joseph Aoun enacts three laws, including banking sector reform
President Joseph Aoun enacted on Thursday three laws adopted on July 31 by Parliament, including one related to the reform and reorganization of the banking sector, considered crucial for the future of Lebanon's negotiations to finalize an agreement with the International Monetary Fund (IMF). The president also signed an amendment to certain provisions of Law No. 11/2025 concerning non-residential leases and another amending the granting of allowances to public school principals.
