Damascus-SANA
The Ebdaa Bank for Microfinance and Microfinance announced its transformation into (Ebdaa Bank for Microfinance Syria) after completing the process of reconciling its conditions and amending its statute in accordance with the provisions of Law No. 8 of 2021, according to which the minimum capital of the bank was raised to 5 billion pounds.
The CEO of the bank, Adeeb Sharaf, explained in a statement to SANA that since last April, the bank has raised the ceiling of its loans to 5 million pounds, with the same interest at 1.5 percent, after the ceiling was 2 million pounds, and a study is currently being prepared to raise the loan ceiling to 15 million pounds, expected to be soon .
With the aim of facilitating the access of citizens in the governorates to the services and facilities of the bank, Honor revealed the signing of two work agreements with the two companies Al-Haram for money transfers and Al-Fouad Exchange, which aim to enable citizens who deal with the bank to receive loan amounts and pay the installments at all the offices of these two companies, which saves customers time and money and reduces of the burden of transportation.
The bank continues to implement its plan to enhance its horizontal spread and focus on rural areas, as it has opened four new access points for it, represented by a branch in the headquarters of its general administration in Al-Abed Street in Damascus and three offices in Al-Haffah and Beit Yashout in the countryside of Latakia and Qatana in the countryside of Damascus, according to what Sharaf confirmed, announcing the entry of these points into service along with its branches In Jaramana, rural Damascus and the governorates of As-Suwayda and Tartous.
Sharaf stressed that the bank continues to provide a variety of productive, industrial, health, educational and residential loans (cladding and restoration) and the purchase of household equipment, indicating the importance of enhancing the concept of financial inclusion by providing broader banking services such as deposit, which the bank does in addition to granting encouraging benefits to small depositors.
Microfinance banks, in accordance with the provisions of Law No. 8 of 2021, provide many services, including “accepting deposits in Syrian pounds, financing and micro-loans with or without a guarantee, opening current and savings accounts, insurance and reinsurance services, investing in government securities, and contributing with the banking system to transferring funds at the request of individuals.” inside Syria.”
Sharaf indicated that the bank is working on preparing a package of banking products and digital financial services related to the electronic payment system and internal remittance services, in line with the provisions of Law No.
Article 25 of Law No. 8 of the current year states that “the social banking financial institutions established in accordance with the provisions of Legislative Decree No. 15 of 2007 and the Ebdaa Bank for Small and Microfinance, established in accordance with the provisions of Law No. 9 of 2010, must reconcile their conditions and amend their basic systems in accordance with the provisions of this law during A period of two years starting from the date of its entry into force.
Waseem Al-Adawi