A meeting chaired by Engineer Khamis to evaluate the lending policy and prepare a vision for the development of the regulatory environment

Damascus-Sana

A meeting in the Presidency of the Council of Ministers conducted an evaluation of the lending policy of public and private banks during the past stage in terms of priorities, guarantees, benefits and the regulatory environment and the importance of employing the monetary mass of banks in lending to small and medium enterprises and production.

The Ministries of Finance, Justice, Central Bank and Working Banks were asked to complete the completion of the draft law on public banks and prepare a draft law for private banks so that these banks can expand their investment and enter direct investment.

It was decided during the meeting chaired by Prime Minister Eng. Emad Khamis and the attendance of directors of public and private banks to ask working banks and financial and monetary policy authorities to prepare a common vision to develop the environment governing lending and find incentives that promote the continuation of banks to serve development.

It was stressed on cooperation and coordination between the Central Bank of Syria and the operating banks to overcome all difficulties in order to proceed with a balanced and sound lending policy, while continuing to evaluate the work of private banks in terms of their work mechanisms, financial policy and their role in development, to correct their work by enhancing the positives to exercise their role in development.

Participants considered that the growth of deposits during the past three years in all banks significantly reflects the confidence of depositors of these banks and the economic environment, which is recovering, noting the steadfastness of the financial and banking sector and its cohesion during the war years and its continued granting loans and conducting withdrawals and deposit operations.

The proposals focused on providing facilities to individuals and companies to lend for the purpose of investment and to create a stimulating environment for lending and attracting funds at home and abroad, in addition to the importance of the existence of accredited centers to conduct real economic feasibility studies for investment projects.

The meeting was attended by Ministers of Finance, Justice, Economy, Foreign Trade and Tourism, the Secretary General of the Presidency of the Council of Ministers, Chairman of the Advisory Council, Chairman of the Planning and International Cooperation Authority and Governor of the Central Bank of Syria.

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