Damascus-Sana
The People's Assembly, in its thirteenth session of the second regular session held under the chairmanship of Hammouda Sabbagh, Speaker of the Council, approved a number of draft laws, the most important of which was the draft amendment of Article 2 of Law No. 28 of 2010 regarding the determination of the capital of the Industrial Bank at 14 billion Syrian Pounds and became a law.
A number of council members believed that this project would contribute to achieving financial access for the largest possible segment and enhance economic and productive activity, calling for a focus on small and medium enterprises, while Minister of Finance Dr. Kinan Yaghi emphasized the importance of this project, which aims to enhance the ability of the Industrial Bank to lend, indicating that the bank’s nominal capital The current amounting to 10 billion pounds, of which 7 billion pounds is paid, and is "the main carrier of the public and private industrial sector."
After an extensive discussion during which the members presented their interventions and suggestions, the Council also approved the draft law that includes the creation of microfinance banks and became a law, as the President of the Council emphasized the importance of the project in terms of achieving sustainable development, noting that the Council had previously participated, through its delegations, in many international conferences and workshops that discussed ways to achieve Sustainable development and securing the financial infrastructure to establish productive projects.
The aforementioned draft law includes 29 articles related to tariffs and objectives related to microfinance banks, the most prominent of which is achieving sustainable development, establishing these banks, the percentage of participation in them, the capital alone, the minimum is 5 billion Syrian pounds, the services and activities they provide and their obligations, and the control and supervision of their work that is undertaken by the Monetary and Credit Council and the Insurance Supervisory Authority.
The articles of the draft also indicate the exemptions and benefits granted to microfinance banks, the prohibitions that they must not engage in, the manner of forming their boards of directors, and a number of general and final provisions related to their work and the necessity for the Monetary and Credit Board to issue the necessary executive instructions to implement the provisions of this draft law, especially those related to licensing and registration procedures.
The Council also approved the draft law containing the creation of the Public Authority for Fish Resources and Aquatic Life and became law, following the approval by the majority of the amendments made by the joint committee consisting of the Agriculture and Water Resources Committee and the Constitutional and Legislative Affairs Committee on articles 33, 34, 35 and articles 53 to 65 related to “provisions Leasing fishing and investment rights and penalties.
The Minister of Agriculture and Agrarian Reform, Eng. Muhammad Hassan Qatna, and the State for People's Assembly Affairs, Eng. Malloul Al-Hussein, participated in the session.
The meeting rose to 12 noon tomorrow, Wednesday.
Wasim Al-Adawy and Amer Deeb