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Specialized in banking work: Law No. 8, a gateway for low-income groups to improve their living conditions

2021-02-27T16:37:19.162Z


As-Suwayda-SANA, many banking professionals in Sweida governorate find it important to take advantage of the benefits


Sweida-Sana

Many banking professionals in the governorate of As-Suwayda find it important to take advantage of the benefits provided by Law No. 8 for the creation of microfinance banks for the non-income groups to improve their standard of living through small and micro income-generating investments.

According to the head of the Legal Affairs Department at the Savings Bank branch in Sweida, Khaled Harb, Law No. 8 touches and meets the needs of a large segment after years of war on Syria and constitutes an opportunity for those who do not have an income and carry an idea or a manual, craft, agricultural or other profession to benefit from the loans that will be provided by them. Microfinance banks, provided they have serious work and good study of them in proportion to the reality of the local community.

Law 8, as Harb mentioned, carries important positive aspects, including the reduced interest of loans through the banks concerned with granting them and easy installments to the borrower, as well as being satisfied with guaranteeing only what the loan carries without other guarantees for some of the aspects in it, encouraging the use of loans that will be granted through banks that will occur under the law, especially for the countryside. As it supports the wheel of the national economy and promotes self-sufficiency in facing the conditions of the economic blockade on our country.

According to Tamim Nasr, director of the National Microfinance Corporation branch in As-Suwayda, Law 8 serves to convert the institution into a bank that provides loans with reduced interest while raising its ceilings to the permissible limit, providing facilities for the payment process, activating electronic payment services, and launching new products and services commensurate with the needs of the target group.

Nasr added that according to the law, loans are available in amounts sufficient for the establishment of various small projects with facilitation to obtain them, with or without guarantee, in addition to what it grants to the micro-finance banks in terms of complete exemptions from the stamp fees on the loan contract, bonds, all fees and mortgage expenses in real estate departments, car mortgages and capital tax On the amount of deposits up to 2 million pounds, in addition to exempting them from profit tax for the first five years, and greatly reducing them in the remaining years.

While a member of the Financial and Accounting Professions Syndicate, Tariq Hamzah, pointed out that the law gives an advantage that does not exist previously and is an important addition to the banking sector, that it targets those without income who previously did not find financing in banks to carry out work, and thus it will be the alternative available to them to launch simple productive projects that achieve an income that improves their standard of living.

According to the financial official at the Real Estate Bank branch in Sweida, Wissam Amer, there are experiences in developing countries with micro-projects that have positively reflected on the advancement of the economy wheel in which we need to benefit from it as this law carries this development dimension because it targets the limited or no-income segment who were unable to obtain Funding to start their own projects.

Long lifespan

Source: sena

All business articles on 2021-02-27

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