Lebanon’s Central Bank denies lifting of “comprehensive support” for commodities

The Governor of the Banque du Liban, Riad Salameh, said there are many fallacies when talking about lifting all subsidies on consumer goods and “we will continue to fulfill our obligations in a way that does not conflict with the law.”
Salameh’s positions were given during his meeting with the Executive Council of the Federation of Banking Employees Unions, where he informed him about the Federation’s point of view regarding the circular issued by the Banque du Liban No. 154, which the council considers the introduction to the revitalization of the banking sector, which stipulates that banks urge their clients to return 15 percent of their transfers and status. On a frozen account.
Regarding the issue of the reduction of employment in banks due to the current circumstances, the Council noted that it highlighted for security “the need for bank administrations to adhere to legal principles when implementing the termination of their employees’ contracts “, Highlighting that” the compensation to be paid to those who are disbursed must be in accordance with the difficult social and life reality, as they were informed. Judgment on the reality of work in the Bank Employees Investment Fund.
The statement noted that “the ruler 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 Bank of Bank Employees”, and stressed that “the application of Circular No. 154 is an urgent need to boost the banking sector ”. He affirmed his interest in “ensuring all the vital needs of citizens within the capacities of the Central Bank of Lebanon”, and pointed out that “the lifting of comprehensive support for needs (fuel, flour, medicine and food products) contains many fallacies and the Bank of Lebanon will continue to carry out its functions at this level without contradicting it, with the laws.