In preparation for raising the ceiling of the limited income loan to two million pounds, the Popular Credit is intensifying its efforts to provide liquidity to its branches

Damascus-Sana

The Director General of the Popular Credit Bank, Dr. Nidal Al-Arbeed, confirmed that the bank is currently intensifying its work to provide cash liquidity to its branches in preparation for raising the loan ceiling for low-income people to two million Syrian pounds instead of one million pounds and meeting borrowers' requests in this regard.

In a statement to SANA's delegate, Al-Arbeed explained that the bank is working to secure liquidity for its branches so that they can grant banking facilities to people with limited income with a higher ceiling than it was previously, after receiving the approval of the Monetary and Credit Council to raise the loan ceiling for people with limited income.

The Director General of Popular Credit expected that within two months, the granting of the loan of two million Syrian pounds would begin, affirming at the same time that the bank would continue to provide loans and facilities to owners of small and medium enterprises, productive sectors, industrial, tourism and health projects, educational projects, and professional and scientific institutes.

The ceiling of the low-income loan offered by the Popular Credit Bank at the end of 2015 amounted to 300 thousand Syrian pounds and was raised during 2017 to 500 thousand pounds and during the year 2018 the ceiling was raised to one million Syrian pounds.