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The Syrian Commercial Bank gives its workers a loan equal to 100 percent of the value of their social insurance

2020-02-20T14:27:08.110Z


Damascus-Sana The Syrian Commercial Bank announced the granting of a loan equivalent to 100 percent of social insurance for its Bedouin employees


Damascus-Sana

The Commercial Bank of Syria has announced the granting of a loan equivalent to 100 percent of social insurance for its employees without interest, with a guarantee of end-of-service benefits themselves.

In a statement to a SANA representative, the secretary of the Syrian Commercial Bank, Maher Al-Zoubi, confirmed that he would benefit from the social insurance loan, the employee who has been installed on his job who spent in service for a period of no less than two years, starting from the date of commencing with the bank and the employee who is installed and who is enrolled in the reserve service who receives his salary and dues from the bank.

Al-Zoubi indicated that the said loan is considered payable and must be paid in full upon the end of service of the worker who is not entitled to the retirement pension due to resignation or health layoffs or when the worker moves to another party outside the bank’s owners stating that the worker may not be granted a new exceptional loan except after the payment of the balance of his loan Previous Priority is given in grants to a worker who has not previously obtained a insurance loan.

According to the terms and conditions of the social insurance loan, which SANA received a copy of, the loan amount does not exceed one hundred percent of the total end-of-service compensation at the date of the loan application, while its duration does not exceed 15 years or the remainder of the employee’s age of 65 years, whichever comes first.

The controls indicate that the loan is to be paid in equal monthly installments and within a percentage that does not exceed 40 percent of the borrower's monthly salary. In the event that the loan value exceeds 500 thousand Syrian pounds, the borrower must secure a guarantor working in the Syrian commercial, but if the loan does not exceed 100 thousand pounds Installment is required for a maximum of two years.

It is noteworthy that, based on the decisions of the Monetary and Credit Board related to loans, the loan ceilings that a worker can obtain do not exceed 15 million Syrian pounds.

Wasim Adawi

Source: sena

All business articles on 2020-02-20

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