AMMAN
– HE Dr. Talal Abu-Ghazaleh, founder and chairman of Talal Abu-Ghazaleh Global
(TAG.Global), has digitally participated in the panel session organized by Al
Madina Forum in Beirut entitled: “Governor of Lebanon’s Central Bank Mandate:
Governor’s or Governance Crisis”.The panel was attended by a host of
specialists and people badly affected by the incorrect decisions taken by the
government and the Central Bank Governor. 

The
session has hosted Mr. Roy Badaro, an economist expert in drafting general
policies, and Mr. Tawfiq Shambour, researcher and lecturer on financial laws
and currency to talk about the future of the Central Bank’s governance after
the expiration of the mandate of Governor Riad Salameh.

During
the session, Dr. Abu-Ghazaleh raised a number of inquiries in his statement,
mainly the mechanism of appointing the Central Bank governor, who  he is
responsible for, how he is held accountable, how he could be dismissed, as well
as his legal reference, noting that answers to such questions are shrouded in
ambiguity.

Dr.
Abu-Ghazaleh further affirmed the need to develop a legal study that clarifies
the relation with the governor of Lebanon’s Central Bank, mechanisms of his
appointment, accountability to all ‘crimes’ committed against Lebanon, its
economy and people, pointing out that the banking secrecy law is still valid in
Lebanon, which makes it the only country to maintain such secrecy.

 Mr.
Marwan Al Nabulsi, member of the Forum’s coordination committee, expressed
gratitude for the participation of Dr. Abu-Ghazaleh in the seminar in his
capacity as one of the depositors who have been badly affected by the freezing
of funds in the Lebanese banks, and in his capacity as one of the key defenders
of the depositors’ rights to gain access to their frozen assets.

It
is worth mentioning that Dr. Abu-Ghazaleh has previously announced his
intention to form a voluntary council that will be tasked with the mission of
recovering depositors’ money from the Lebanese banks regardless of the value of
their deposits, launching a website for this council, to file a Class Action
lawsuit at all relevant authorities, describing what has happened in Lebanon as
a crime against humanity.

During
the session, speakers talked about the implications of the monetary and banking
policies set up by the governor of Lebanon’s central bank since the 1990s on
the economy, society, and the financial and living conditions, and how the
loopholes cemented the way for the current collapse.

The Madina Forum is a political, social and
consultative forum that aims at creating an open space for discussions among
the people of the city who are interested in the public affairs in Beirut and
Lebanon in general.