The Federation of Syndicates of Banks’ Employees in Lebanon strongly rejected the government’s proposed plan to restructure the banking sector.
Discussion of the proposed draft law aimed at addressing Lebanon’s banking crisis and the government’s proposed restructuring measures took place on Monday in a meeting organized by the Federation in collaboration with the Faculty of Management at Saint-Joseph University. Participants unanimously concurred that “the proposed project fails to offer a viable solution to the banking sector’s challenges; rather, it exacerbates them.”
They anticipate that its implementation will lead to the liquidation of numerous banks, exacerbating the issue of deposit erosion.
Furthermore, Georges Antoine Al Hajj, the president of the Federation of Syndicates of Banks’ Employees in Lebanon, stated that the outcomes of the meeting would be documented in a memorandum to be presented to stakeholders involved in the banking sector restructuring.
