A collective contractual agreement for 2013 & 2014 signed between banks and employees

The Union of Trade Unions of Bank Employees and the Union of Banks in Lebanon signed yesterday on the 31st of July a collective employment contract for the years 2013 and 2014.  The signing was attended by the Minister of Labor, Selim Jreissati, the President of the Banks Association Dr. Francois Bassil, the Assiociation’s General Secretary Makram Sader, the president of the Union of Trade Unions of Bank Employees, George Al-Hagem and the President of the Union of Bankers Asad Khoury.  The collective employment contract comes into effect as of 1 January 2013 and covers some 22000 employees the majority of whom are women.  The contract revolves around three key axes which stem from the fundamental principle of safeguarding the present terms and rights of employees.  As such, the contract clarifies that a) administrative increment will be maintained at 3% per year; b) high cost of living will cover the 16 months of pay (rather than only 12 months); and c) working hours will be from 8:00 AM till 2:00 PM from Monday to Friday and from 8:00 AM till 1:00 PM on Saturdays, yielding a total of 35 hours per week, despite an earlier attempt by banks to increase them to 48 hours a week.
The collective employment contract also allows for an increase in school fees coverage from 2.750 to 3.5 million LBP as well as an increase in university fees coverage from 3.750 to 5.5 million LBP and from 1 million LBP to 1.5 million LBP in the case of enrolment in the Lebanese University.  The president of the Union of Trade Unions of Bank Employees, George Al-Hage, also noted that a decision was taken to set up a solidarity fund to cover hospitalization costs for retired bank employees which will kick off next month.  He also expressed the union commitment to initiate discussions on the pension plan as soon as the preparatory studies on that matter are completed.
Source: Al-Nahar, Al-Safir, Al-Mustaqbal, Al-Akhbar, Al-Diyar 1 August 2013