Report: Disagreements over Naming BDL Vice Governors


The Cabinet is scheduled to meet on Thursday to discuss 26 items on its agenda, but an important item was “ignored inclusion” and related to the appointment of vice governors of the Central Bank of Lebanon (Banque du Liban, BDL), al-Joumhouria daily reported on Wednesday.

Ministerial sources told the daily: “The Cabinet agenda has ignored inclusion of an item related to appointing the vice-governors of BDL because of conflicting opinions between the Free Patriotic Movement and the Tashnag Party over naming the Armenian member.”

The sources, who spoke on condition of anonymity, added: “The FPM wants to replace Haroutioun Samuelian (whose term and that of the four other Vice-Governors ended Sunday) while Tashnaq wants to renew his term for another five years.”

The sources added: "It was believed that the matter was set when Druze leader and Progressive Socialist Party chief Walid Jumblat, and Prime Minister Saad Hariri agreed to appoint banker Fadi Fleihan instead of Saad Andary for the Druze seat, but it seemed that was not enough.”

Vice-Governors are appointed by decree sanctioned by the Cabinet for a renewable five-year term.

The current Vice-Governors, whose term ended at the end of March are: Raed H. Charafeddine (Shiite), Saad Andary (Druze), Muhammad Baasiri (Sunni)and Haroutioun Samuelian (Armenian).

By law, the candidates for the vice governors’ posts are chosen along confessional lines.

Comments 5
Thumb justin 03 April 2019, 15:53

أربعة نواب للحاكم يمثلون الطوائف الكبرى ⁧وهم:أرمني⁩ ⁧ودرزي⁩ ⁧وشيعي⁩ ⁧وسني⁩ يتقاضى كل واحد منهم راتب شهري بقيمة 35 مليون ليرة على مدى 16 شهر سنويا ، وعند إنتهاء ولايته يحصل على تعويض بحوالي مليار و120 مليون ليرة مع العلم أن كبريات دول العالم لديها نائب واحد للبنك المركزي، أفليس هذا هدر بالإمكان ضبطه من خلال إعتماد سياسات مالية جديدة تؤمّن الوفر على الخزينة؟ “

Thumb lubnani.masi7i 03 April 2019, 16:38

wow! so 4 deputies @ $320 k per year = $1,280,000 add approximately $1 million per deputy every 5 years = $4 million!

Thumb s.o.s 03 April 2019, 16:06

If they’re fighting about it it means there’s money involved. I’d like to read that journalists investigate the matter and research how much each of these individuals are making and what there’s to fight for as vice governor given the fact that the decision make is the excellent Riad Salame.

Thumb whyaskwhy 03 April 2019, 16:19

Why would a banking structure based on religious background be more important than the capability of the individual in that role? simply because it empowers his rel boss to better facilitate his or her business. That is so Lebanese now that the natour in our building has enough wasta to insure who gets a reduction to his apartments tax program. Who needs education or aspiration in life when we have a wasta system?

Thumb marcus 03 April 2019, 20:03

The readers should also be aware that 5 years ago there was a supervisory/regulatory panel set up for the oil exploration and it has more than 20 members each with a salary in excess of $50,000 per month. These members have done nothing in 5 years but they receive their monthly salaries.!!!!