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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, highlighting his desire to ensure the vital needs of citizens within the bank’s capabilities.
Salameh said, during his meeting with the Executive Council of the Federation of Banking Employees Unions yesterday, that “the lifting of comprehensive support for needs (fuel, flour, medicine and food) contains many fallacies, and the Bank of Lebanon will continue fulfilling its duties in this regard in a way that does not contradict the laws ”.
On the issue of reducing occupancy in banks due to current circumstances, the City Council assured the security of “the need for bank administrations to adhere to legal principles when applying the termination of their employees’ contracts.” The Council stressed that “the compensation that will be paid to expatriates must be in accordance with the difficult social and life reality. They also informed the president about the reality of working in the mutual fund of bank employees.”
The communiqué stated that “the president understood the demands of the Union, especially with regard to the exchange issue in the banking sector,” and promised to “follow up on the file of the Mutual Fund for bank employees.”
Notably, the Lebanese are concerned and doubt the possibility that the central bank will continue to support commodities (fuel, flour, medicine and some food items) in light of the bank’s dwindling currency assets.
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.
