The cabinet appointed Samir Hammoud head of the Banking Control Commission of Lebanon, Information Minister Ramzi Jreij declared following the cabinet session held on Thursday, noting that “the issue is related to the credibility of the banking sector.”
In a statement issued after the session, Minister Jreij pointed out that Prime Minister Tammam Salam reiterated his call to elect a new president, stressing that “the head of state represents national unity.”
On another note, Jreij said the government approved the proposal presented by the Foreign Ministry to attend seminars held abroad, as well as the request to exempt the Greek Catholic Charity Association from construction fees.
According to the statement, the cabinet also approved the request presented by the Public Works Ministry to conduct maintenance works on the roads, with a budget that does not exceed half a billion Lebanese Pounds.
Prior to the session, Finance Minister Ali Hassan Khalil said that “he is ready to suggest discussions over the issue of the Banking Control Commission from outside the agenda.” In turn, Minister of Health Wael Abou Faour said that “if competency beats out division of shares, the BCCL issue could be resolved.” Observers expressed fear over the cabinet’s failure to appoint the members of the Banking Control Commission of Lebanon before the end of the current representatives' mandate ends on March 11. The paralysis at the cabinet could have bad repercussions on the banking sector if the members of the committee, 5, were not replaced or their mandate extended. According to the Lebanese Monetary and Credit Code, the committee suspends its work after the mandate of its members ends and they become merely caretaking officials. The current members 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 includes five members who are appointed by the council of ministers for a five-year mandate.