On 6/12/2019 at noon, the renewal of the Collective Labor Agreement 2019-2020 between the Association of Banks in Lebanon (ABL) and the Federation of Syndicates of Banks Employees in Lebanon (FedSLEB) was signed in the Association of Banks in Lebanon’s headquarter, with the presence and under the patronage of the former Minister of Labor and lawyer Mr.  Kamil Abou Sleiman. The President of the ABL Dr. Salim Sfeir and the President of FedSLEB Mr. Georges El Hage with the Secretary General Mr. Hekmat Al-Sayed signed the agreement on behalf of the ABL and the FedSLEB respectively. Each of the two presidents thanked the former Minister Kamil Abou Sleiman for the efforts and time he devoted for the successful mediation he carried out to bridge both perceptions, allowing then the agreement’s renewal. The former Minister had stated that the Collective Labor Agreement of the banking sector “contributed for decades in insuring job stability and social security for thousands of Lebanese workers, and is the fruit of tireless efforts exerted by untainted and wise officials in the Association of Banks in Lebanon and by members of the Syndicate  who are dedicated and committed, in actions not in words, to the workers’ interest and the guarantee of their legitimate rights. Therefore, we are committed, as we are responsible for the Lebanese workers especially under this critical situation, to maintain this historical advantage achieved by both productive parties in the Lebanese banking sector.” The Minister added: “this step was taken to mitigate the pressure on bank workers and to help them concentrate better on serving clients during these difficult financial and economic circumstances the country is undergoing”. Dr. Salim Sfeir emphasized on “the importance of renewing the Collective Labor Agreement during the critical conditions of the economic recession the Lebanese economy is experiencing. This recession is negatively reflected on the employment situation, increasing the unemployment rate and decreasing the capacity of business owners to pay salaries and wages and sustain their businesses.” Dr. Sfeir praised the strenuous and tireless efforts of the Human Resources and Social Committee in the ABL headed by Dr. Tanal Sabbah with the assistance of a group of experts who kept pace with the committee’s work. He also praised the responsible and rational performance of the FedSLEB headed by Mr. Georges El Hajj that led both parties to this satisfying and balanced result and to this achievement made in favour of the whole banking family. As for Mr. Georges El Hajj, he stated that the FedSLEB took the country’s exceptional circumstances into consideration while negotiating the Agreement’s renewal, considering that “the biggest benefit that can be earned in the current stage lies in safeguarding employment, especially bank workers and their acquired rights. He also outlined the improvements that were introduced to the two-year contract as follows: 1. Raise the low salaries for beginner employees. 2. Increase scholarships for employees’ children in schools (from LBP 3.5 million to LBP 4.5 million) and universities (from LBP 5.5 million to LBP 7 million). 3. Maintain the annual wage increase rate (3%) and determine a mechanism to distribute fairly and equitably this increase to employees. 4. Add further benefits concerning administrative leaves.

Communication & PR Department