Al-Hasakah-Sana
Law No. 8 achieves a qualitative, comprehensive and distinguished banking shift in terms of unprecedented services and credit facilities that will be provided by microfinance banks, as it brought about an advanced and open banking vision by facilitating lending operations, opening accounts, insurance services, investing in securities and training.
The new law contributes to securing additional income for a wide range of citizens, with limited and no income, by granting them easy operating loans to support their small and micro enterprises, according to what the economic researcher, Dr. Economic in developed societies by up to 70 percent of their economies.
Lawyer Ahmed Al-Salem saw that the law is an important step in confronting the unilateral coercive economic measures that affected the Syrian people in the first place, considering that the largest segment of society is low-income and therefore the application of the new law will have a significant impact in fighting unemployment and improving the level of family income, especially in Rural areas.
The elements for the success of the law are available in light of the presence of many ideas to establish small and micro projects as well as an expert workforce in various fields to achieve sustainable development, according to the economist Ghazi Al-Nasser, who pointed out that the most important characteristic of the law is its targeting of the broader segment of society through its support to become productive and contribute to the payment The wheel of the economy and resistance to the effects of the blockade imposed on it.
For his part, banker Saddam Al-Hejel believes that supporting small projects will positively affect the economic situation in general, as it will be a nucleus for developing work and moving it to medium projects, integrating and developing them, as well as stimulating financial mobility in banks.
And to distinguish from all previous banking laws, the law on microfinance banks comes to address the issue of lack of financing due to the lack of guarantees, especially in rural areas, which today are in dire need to establish small projects that generate profit for their owners.
