Damascus-Sana
The participation of the Industrial Bank in the Damascus International Fair in its sixty-first session “from Damascus to the world” was characterized by the intensity of visitors, especially industrialists, who focused most of their questions on the development loans granted by the bank, whether to buy production lines, machinery and mechanisms and the expansion of industrial and craft facilities and others.
In a statement to SANA representative, Dr. Omar Sidi, Director General of the Industrial Bank, said that the bank's participation in the exhibition comes with the aim of introducing citizens to the loans, services and banking and credit facilities it offers, noting that this participation is an important opportunity to inform industrialists, investors and craftsmen on the new amendments to the instructions for granting loans and direct facilities and other Issued by the bank about a week ago.
The amendments, according to Sidi, include several new controls for the development loan, as the bank plays an important role in providing facilities and loans for the purchase of land in industrial cities and the financing of fixed or working capital and other development loans.
Sidi pointed out that the prices of real estate are not specified and vary between real estate and another, so the bank found it appropriate to raise the proportion of real estate security, which was previously set by 150 percent to 200 percent of the value of the property or facility for the development loan for residential, commercial or industrial purposes, as for the loan For agricultural purposes, the real estate guarantee rate was raised to 300
Due to the difference in rural real estate prices and their association with the seasons and the fact that the loan is long lasting for ten years.
Sidi said that the ratio of real estate collateral would be less if the duration of the development loan is short, either a year or two, and therefore, raising this ratio is linked to the maximum loan as per the instructions of the Monetary and Credit Council and the law of the creation of the bank and compared with public and private banks and custom banking, which requires that the real estate security cover Loan and interest.
The bank manager pointed out that according to the new amendments for the indirect facilities and guarantees for contractors, the maximum supply ratio has been reduced from 50 percent to 30 percent and the ceiling of the guarantee has been raised according to the classification of contractors, where the ceiling became for example the fifth category of contractors 40 million pounds and the third 125 million after 75 million The first 400 million pounds after the 250 million pounds.
The bank manager called on industrialists and craftsmen if they have any questions about the new instructions or products offered by the bank to review its branches in all governorates to clarify all points related to granting loans and facilities.
Sidi said in a statement earlier to SANA the need for a fixed indicative price for real estate because this is at the heart of the work of banks because the real estate represents the guarantee for loans and credit facilities granted by the banks to dealers, especially with regard to the financing of housing projects.
Handsome Adawi