The end of BDL governor's term: Lebanon's search for the next BDL governor

Amidst mounting crises and an impending deadline, the fate of the Banque du Liban (BDL) governorship remains uncertain. As the term of BDL's Governor Riad Salameh concludes on July 31, deputies are grappling with the weight of responsibility.

Voicing their concerns transparently, the governor's deputies confronted Prime Minister Najib Mikati, demanding guarantees to shield themselves from potential backlash and confrontation.

LBCI has reported that Mikati is expected to convene with the deputies again on Wednesday to discuss the action plan and assurances they have sought.

Mikati may also meet with the BDL Governor on Wednesday ahead of his anticipated television appearance on LBCI.

However, governmental sources were not pleased with the leaks of the Prime Minister's meeting with the deputies on Monday, who believe that the matter requires delicate handling and confidentiality with legal assets to avoid turbulence.  

According to the sources, the State Council's consultation aims to understand the legal implications if the deputies were to resign and whether their resignation would be binding on the government.

Nevertheless, the sources note that the First Deputy Governor of the Central Bank, Dr. Wassim Mansouri, well-versed in law and the constitution, has taken an oath alongside his colleagues and is well aware of his duties.

In an effort to address the pressing issue of the BDL's governance, a meeting convened in Ain el-Tineh, bringing together Parliament Speaker Nabih Berri and PM Mikati.

During the meeting, Berri stressed the need for a government session to appoint a new BDL Governor, while Mikati made no statements.

No conclusive decisions have been currently made, and multiple scenarios are being considered. One such possibility is that the governor's deputies might present their resignations, which the government will likely reject.

A government meeting is expected to take place before Friday to discuss BDL governance in its entirety and the post-Salameh era.

According to LBCI's sources, potential appointees might be proposed during this session, including up to three names for the BDL Governor position.

However, any appointment is unlikely as ministers closely aligned with the Free Patriotic Movement (FPM) have been boycotting sessions, and Hezbollah is opposed to the appointment.

The government may declare that it has fulfilled its duty, and the governor's deputies would continue in their current positions within the caretaker government, thus absolving themselves from any possible consequences.