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Real Estate Announces Raising Development Loan Ceiling


DAMASCUS, (SANA) -The Real Estate Bank announced on Thursday that it has amended the ceiling of the development loan provided by the bank to SYP 50 million


The Real Estate Bank announced the amendment of the ceiling of the development loan provided by the bank to become 50 million Syrian pounds for the actors who work individually and 100 million Syrian pounds for the owners of the actors who work in the form of legal persons instead of 10 million pounds according to the controls approved by the board of directors of the bank.

The bank said in a statement received by the SANA economic bulletin that the approval of the amendment of the ceiling of the development loan was based on a letter from the government commission to banks in the Central Bank of Syria after adding a number of controls is the refusal to accept any collateral may expose the bank to the risk of inability to implement or risk The procedures of amending the Bank's operations system shall be completed accordingly and duly. The situation shall be assessed periodically by the Directorate of Risk Management and presented to the Board of Directors. The Commission shall review the results of the evaluation every six months.

The Director General of the Real Estate Bank, Dr. Madian Ali confirmed in a statement earlier to SANA that the bank is seeking in coordination with the Central Bank of Syria to raise the ceiling of all loans provided to its customers within a short period, including the purchase of housing, restoration loan and development loan.

Handsome Adawi

SANA Economic Bulletin

Source: sena

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