Central: Employing liquidity and financial resources for banks to support the production process

Damascus-Sana

The Central Bank of Syria discussed with the banks operating in Syria the decisions related to financing imports, stimulating exports and credit facilities, procedures for controlling the exchange rate and the role of banks in implementing the executive instructions of Cabinet Resolution No. 5 related to opening bank accounts for the purpose of paying the price of real estate and vehicles sold.

According to a statement by the Central Bank, SANA received a copy of it, the participants also discussed during the meeting ways to enhance the effectiveness of banks in exploiting the economic potential and overcoming the obstacles that hinder banking work in light of local and regional economic changes, the most important of which is to address the issue of bad debts in addition to discussing contracting and financing mechanisms and attracting savings.

The Governor of the Central Bank of Syria, Dr. Hazem Qarfoul, stressed during the meeting the importance of using liquidity and financial resources for banks in supporting the production process and financing and supporting economic activity, calling for continuing to maintain banking safety indicators in the first place and improving performance indicators for the banking sector.

Jarfoul called on banks to support the banking culture of the public, enhance the confidence of dealers in the banking sector, and secure the appropriate technical environment for electronic payment tools, stressing the continuation of the central through its supervisory and supervisory role in applying the optimum standards in banking work and completing the package of decisions that it has recently taken, which aims to give more flexibility For the banking sector and reassurance of its customers.

Wasim Adawi

SANA Economic Bulletin