Joint position regarding the appointment of the new Central Bank Governor

APPOINTMENT OF THE NEXT CENTRAL BANK GOVERNOR

A TEST FOR THE NEW LEADERSHIP

Full OP-ED : https://today.lorientlejour.com/article/1453161/bdl-governor-a-decisive-test-for-the-new-executive-.html 

A matter of strategic importance :

-    Stop the collusion between the BDL and vested political and private interests

-    Critical to Lebanon’s financial recovery

-    Critical to Lebanon’s credibility on the global stage.

A test to the new executive leadership commitment to genuine reform.

Criteria for the right profile :

·        Integrity and Independence:

- No conflict of interests

- Candidates shall an asset declaration in accordance with the Illicit Enrichment Law

·        Competence

-  Legal and economic expertise are equally important

-  An effective BDL leadership shall break from centralized leadership

Key priorities of the next governor :

·        Restore credibility through flawless governance.

·        Fulfill comprehensive financial and forensic audits

·        Restructure the banking sector upholding the principles of hierarchy of claims, and the protection of public assets. 

·        Rebuild a banking sector that supports investment and growth.

·        Remove Lebanon from the FATF grey list, combating the illicit economy, including that fueled by non-state actors.

Signatories :

Signatories are leaders of expert public policy organizations.

None of them, nor their organizations, endorse any BdL governorship candidate.

Sami Atallah: Founding Director of The Policy Initiative

Joseph Bahout: Director of Issam Fares Institute for Public Policy and International Affairs, American University of Beirut

Nadim Houry: Executive director of the Arab Reform Initiative

Diana Menhem: Managing Director of Kulluna Irada

Fadi Nicholas Nassar: Director of the Institute for Social Justice and Conflict Resolution at the Lebanese American University and Senior Fellow at the Middle East Institute.

Makram Ouaiss: Executive Director of the Lebanese Center for Policy Studies (LCPS)

Nizar Saghieh: Executive Director at Legal Agenda

Carine Tohme: Board member at Aldic

Maha Yahya: Director of the Malcolm H. Kerr Carnegie Middle East Center