Banks in Lebanon Association elects president Tarabay

Banks in Lebanon Association elects president Tarabay


For the first time in 33 years, registered banks Lebanon Association elections a real battle constantly ran for two regulations competing, after it was preceded by the General Assembly session and over these years by acclamation compatibility. Won the list of "Banking Resolution" headed by Joseph Tarabay and includes representatives of large and medium-sized banks (a quarter of the number), as opposed to the list of "change inevitably" led by Chairman of the "Bank of Beirut," Salim Sfeir, which were not complete and included medium-sized and small banks representatives.

With this win, the Council itself ex-back with the continuation of its members Sfeir, in which the number of votes obtained, with the exception of "resource bank", which was replaced by "Bank of Beirut and the Arab Countries" Ghassan Assaf represented by its president, based on an agreement between the two banks on the rotation.

It also was a quorum pointing and an indication of the severity of the battle, as never before that the figure achieved in the presence of 61 banks out of 63 considered sources in the sector to win a list Tarabay cemented the legitimacy of the consensus traditionally adopted in the Assembly elections.

Following the declaration of victory of 12 candidates who make up the Board of Directors, the Board elected the turn of the Bureau of the Council as follows: Tarabay president and head of the "BLOM Bank" Asaad Azahari vice president and head of the "Lebanese French Bank" Walid Roufael a secretary, and President of the "Swiss Lebanese Bank undermine the morning treasurer. and consisted of the board of Directors of the members Nadim Kassar (Fransa) and Abdul Razzaq Ashour (Venice Bank), and Simon Basil (Byblos Bank), and Anton Sahnawi (Societe Generale Bank in Lebanon), and Mohammed Hariri (Mediterranean Bank), and Ghassan Assaf (Bank Beirut and the Arab countries), and Freddie Baz (Bank Audi), and Sfeir (Bank of Beirut).

Following the election of the board of directors office, confirmed Tarabay, "the need to continue coordination and consultation with the banking family members, and the continued close cooperation with the monetary authorities, especially at this delicate stage experienced by the region, and in the light of rapid developments taking place in the political, economic and security situation in neighboring countries."

Also it did not lose sight of the need to "support the preservation of monetary stability policy, and follow-up communication and cooperation with regional and international financial authorities abroad."

He began Tarabay the General Assembly session with a speech summarized the achievements of the previous Council, recalling the "difficult period of banking history in the past two years, and represented internally in the attack on the tax sector, and externally in a new approach to tightening US sanctions." He announced that the confrontation was the "international and local telecommunications traffic." He said: "the recent visit to the United States focused in May (last May), to follow up on the subject of the new law proposed for further sanctions against the" Hezbollah "and those close, and stressed during the meetings on the negative effects that could result from this law, if passed and the damage which has been inflicted in Lebanon and banking work in it. "

He stressed that the delegation of the Assembly "insisted during his meetings in Washington and New York, that the current US legislation in force sufficient enough to cancel the need for any new texts may leave interpretations inappropriate, especially that the Lebanese banks have succeeded in applying the rules of compliance under the Central Bank and to accept international terms of reference of the ceiling , including the US Department of the Treasury. " He pointed out that the delegation explained that "the proposed new legislation may require reconsideration of all successful procedural mechanisms applied and Altzmha Lebanon."

Tarabay did not overlook that the US correspondent banks for Lebanese banks "expressed its satisfaction to deal with the Lebanese banking system." The expectation for "positive developments in terms of taking into account the safety of the sector, based on the conviction of the international community, which we review regularly, the importance of stability in Lebanon, and the banking sector, a fundamental pillar of this stability."

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