Report: Sharp Debate over Appointment of Banking Control Commission

The appointment of the members of the Banking Control Commission of Lebanon (BCCL) created a heated debate during Thursday's cabinet session, prompting Prime Minister Tammam Salam to postpone discussing the matter until next week.

Al-Liwaa newspaper reported on Friday that demands to appoint new members at the committee is expected to create a fuss amid the absence of a head of state, as the 5-member commission would have to take an oath before the president.

Sources told the daily that the government will most probably have to renew the terms of the current BCCL members to avert any confusion.

Labor Minister Sejaan Qazzi told al-Liwaa that “consensus on the matter requires the presence of a president.”

“The situation is not normal,” he added.

The term of the current commission ends on March 11.

According to the Lebanese Monetary and Credit Code, the committee suspends its work after the term of its members end and they become merely caretaking officials.

The current committee's chairman is Usama Mikdashi, who reportedly refuses to renew his term.

Ahmed Safa, Amine Awad, Sami el-Azar and Mounir Lyan are executive directors at the commission.

They were appointed in 2010.

The committee was established in 1967 as an administratively independent body to replace the banking control department of the Central Bank. The commission is comprised of five members who are appointed by the council of ministers for a five-year term.

H.K.

G.K.