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Insurance and National Microfinance.. Providing loans to people with limited income under the guarantee of an insurance policy

2022-02-16T15:08:02.645Z

Damascus, SANA- The Syrian General Insurance Corporation has signed an agreement with the National Bank for Microfinance that allows people with income



Damascus-SANA

The Syrian General Insurance Corporation signed an agreement with the National Bank for Microfinance that allows people with low incomes to obtain loans from the bank under the guarantee of an insurance policy issued by the Corporation, including life insurance against risks in cases of natural or accidental death, permanent or partial disability.

In a statement to SANA's representative after signing the agreement, the Director General of the Foundation, Dr. Nizar Zayoud, confirmed that the agreement expands the umbrella of providing insurance services and contributes to the development of the national economy by supporting micro-enterprises that provide new job opportunities and additional income for low-income people.

Zayoud also indicated that the agreement with Al-Watania leads to simplifying the procedures, facilitating borrowers' access to loans without securing personal guarantors, and achieving the required speed in securing appropriate financing to start and operate a micro-project, pointing out that the agreement will enter into force as of the beginning of next month.

It is noteworthy that this agreement is the third of its kind after two agreements recently concluded between the Syrian General Insurance Corporation and the Popular Savings and Credit Bank for “low-income loans insurance” so that the insurance policy is the primary guarantor for the borrower in addition to life and other risks insurance.

Waseem Al-Adawi

Follow Sana's news on Telegram https://t.me/SyrianArabNewsAgency

Source: sena

All business articles on 2022-02-16

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