The Cabinet approved the draft law for the reform and reorganization of the banking sector.

Minister of Information Paul Morcos said after the Cabinet session: "We will achieve, within a few weeks, a set of reforms that Lebanon, its economy, and especially small depositors in the banking sector need."

He added: "The government will currently focus on preparing a draft law to address the financial gap, which will allow for restoring balance to the financial system."

Morcos pointed out that "the funds of depositors, especially small depositors, are given priority in protecting deposits in the draft law approved today."

Watch the attached video for more.