Banks continue to implement precautionary measures taken after a series of raids on their branches to ensure the safety and security of their employees. The adopted procedure remains unchanged to this day, armed with the right to provide "security and safety for workplaces." Meanwhile, various analyses and interpretations have emerged regarding the phenomenon of "raids on some bank branches... followed by the complete closure of the sector." One prominent theory is that there are parties pushing to escalate the security situation of banks, leading to their closure, and consequently agreeing to restructuring conditions that may result in the final closure of some banks and the merging of others, aiming to limit the number of banks to five in compliance with the International Monetary Fund's demands.
George Haj, the head of the Union of Bank Employees, denies this equation and states via "Al-Markaziyya" that "there is no link between what has happened and is happening regarding raids and bank restructuring, and thus this scenario is misplaced." He notes that there is a draft law for the restructuring of banks proposed by the Prime Minister to the Parliament for discussion. This draft law will be referred to the Administration and Justice Committee for study, and the Association of Banks in Lebanon will be summoned to discuss its provisions. The association will express its observations on the draft law after the discussion. Therefore, what is currently happening with certain depositors raiding some banks has absolutely nothing to do with the restructuring of the sector.
He highlights that "the restructuring of the banking sector includes new laws that will be enforced on banks. Those who can comply will continue in the sector, while those who cannot have several options to choose from based on the law, either resorting to the liquidation of the bank or merging with other banks under the auspices of the Central Bank."
While he indicates that the situation remains unclear "and we do not yet know what the future holds," Haj reveals that there is "constant anxiety and fear among bank employees regarding it. Therefore, we, as the Union of Bank Employees, submitted a bill to the Parliament to amend "Article 4" of the Bank Mergers Law, addressing severance pay in the event of a merger, so that the compensation is reasonable, enabling an employee affected by the severance to continue their life for a specified period during which they can reorganize their affairs and find another position within the Lebanese professional community."
He reminds that the Executive Council of the Union is the one that prepared the mentioned draft law, stating, "To present it to the Parliament, it was necessary to secure the signatures of 10 deputies, and the Lebanese Forces bloc took it upon itself to reconsider the proposal and rephrase it legally, so that it could be presented to the Parliament in preparation for its approval by the General Assembly."
Haj reiterates: "We are, of course, concerned about the restructuring draft law that is still present in Parliament for discussion before being presented to the General Assembly, as it is a project of significant importance and danger."
