BEIRUT: The Association of Banks in Lebanon and the Association of Bank employees Wednesday signed the collective contract employment for 2016-17. The contract was signed by the head of ABL Joseph Torbey and president of the employee association George al-Hajj.
The new item added in the contract was the ratification of the medical coverage system after retirement.
Torbey said that ABL has sensed the concern of the bank employees who reach the retirement age and are denied medical coverage and for this reason both sides agreed to add the full medical coverage for retired staff.
He added that the Community Participation Option system has been included in the medical coverage system for the bank staff.
“This option can be done through an insurance company contracted with a bank or through a fund for the employees. The employee should pay the insurance premium,” Torbey explained.
He stressed that the collective employment contract has ensured social stability for thousands of employees in the past decades.
Torbey added that banks have encouraged the staff to join the medical mutual fund.
