The governor of the Lebanese Central Bank denies the removal of...

The governor of the Lebanese Central Bank denies the removal of...
The governor of the Lebanese Central Bank denies the removal of...

Beirut – dpa: The Governor of the Banque du Liban, Riad Salameh, confirmed yesterday, Wednesday, that the lifting of comprehensive support for basic materials contains many fallacies, stressing his keenness to secure the life necessities of citizens within the bank’s capabilities.
Salameh said, during his meeting with the Executive Council of the Federation of Bank Employees Syndicates yesterday, that “the lifting of comprehensive support for necessities (fuel, flour, medicines and foodstuffs) contains many fallacies, and the Bank of Lebanon will continue to carry out its duties in this regard in a manner that does not conflict with the laws.”
Regarding the issue of reducing the number of employment in banks due to the current circumstances, the Council assured the safety of “the necessity for bank administrations to adhere to legal principles when applying the termination of their employees’ contracts.” The Council stressed that “the compensation to be paid to the expatriates must be commensurate with the difficult living and social reality. They also informed the ruler about the reality of working in the mutual fund for bank employees.”
The statement declared that «the ruler was understanding of the Union’s demands, especially with regard to the issue of exchange in the banking sector», and promised to «follow up the file of the Mutual Fund for bank employees».
It is noteworthy that the Lebanese are concerned and doubts about the possibility of the central bank continuing to support basic commodities (fuel, flour, medicines and some foodstuffs) in light of the bank’s dwindling assets of foreign currencies.
And unofficial information indicates that the Central Bank will not be able to support fuel, wheat and medicine for more than the next three months.

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