Illustrative photo: the facade of the Banque du Liban with graffiti seemingly left by a group supportive of the depositors’ cause, pictured here on Jan. 30, 2025. (Credit: L'Orient-Le Jour)
A little over a month passed between the end of the mandate of Banque du Liban's (BDL) vice governors and the Banking Control Commission's (BCC) members, and the government's new appointments for these crucial positions, key to implementing long-awaited financial and banking reforms.The new appointments immediately sparked a wave of criticism. “We have returned to the old way of doing things: each community leader appoints their own to the positions allocated to them,” one Change MP said, echoing a sentiment oft repeated since the July 11 Cabinet meeting.The reappointment of two former vice-governors despite President Joseph Aoun's intention to bring change to the four available positions (or, failing that, to reappoint all of them collectively with no exceptions) was a particularly contentious point. This decision led to...
A little over a month passed between the end of the mandate of Banque du Liban's (BDL) vice governors and the Banking Control Commission's (BCC) members, and the government's new appointments for these crucial positions, key to implementing long-awaited financial and banking reforms.The new appointments immediately sparked a wave of criticism. “We have returned to the old way of doing things: each community leader appoints their own to the positions allocated to them,” one Change MP said, echoing a sentiment oft repeated since the July 11 Cabinet meeting.The reappointment of two former vice-governors despite President Joseph Aoun's intention to bring change to the four available positions (or, failing that, to reappoint all of them collectively with no exceptions) was a particularly contentious point. This decision...
