Report by Nada Andraos, English adaptation by Karine Keuchkerian
The terms of Lebanon’s four central bank vice governors end on June 9, sparking debate over whether to appoint new officials or renew the current vice governors for another full five-year term.
Despite confirmation from political circles involved in nominating or endorsing candidates for each of the four vice governor positions—Shiite, Sunni, Druze, and Armenian—the prevailing view is to renew the term of Shiite Vice Governor Wassim Mansouri, whom both the president and the speaker of parliament want to keep in place, as well as the renewal of Armenian Vice Governor Alexander Mouradian.
Although there had been reports of a possible replacement for Sunni Vice Governor Salim Chahine, the option of renewing his term has also been reconsidered.
However, it remains undecided whether Druze Vice Governor Bachir Yakzan will be renewed or replaced by Makram Bou Nassar, the preferred candidate of the Progressive Socialist Party.
Sources told LBCI that Finance Minister Yassine Jaber sent a letter to Central Bank Governor Karim Souaid to consult on the appointments of the vice governors.
The consultation, as proposed by the finance minister, is understood to focus on renewing the terms of the four current vice governors, especially since the president, the speaker of parliament, and the prime minister do not oppose this.
Pending the governor’s response and further consultations, the finance minister will submit his proposal to the cabinet.
Meanwhile, the finance minister is also reviewing nominations for the Banking Control Commission, which includes a Sunni president and four members representing the Maronite, Orthodox, Catholic, and Shiite sects.
According to established procedures, the Maronite nominee is proposed by the Association of Banks, which has yet to finalize its candidate, while the finance minister proposes the other nominees.
All of these decisions are expected to be submitted before the end of the vice governors’ and the Banking Control Commission’s terms. However, informed sources say the cabinet may extend the deadline if more time is needed to reach a broader consensus among stakeholders.