Damascus-SANA
The Savings Bank and Al-Ibdaa Microfinance Bank (Syria) signed a memorandum of understanding that allows customers with the Ebdaa Bank to obtain the financial services it provides through the branches and offices of the Savings Bank that are widely spread in cities and rural areas.
The memorandum signed by the Director of the Savings Bank, Raghad Maasab, and the CEO of Ebdaa Bank, Adib Sharaf, stipulates the effective cooperation between the two banks to implement joint financing programs for the target groups of microfinance.
Chief Executive Officer Sharaf explained in a statement to SANA reporter that the memorandum aims to expand the channels of providing financial services to customers, deliver them to a larger number of them, contribute to the development of the national economy, achieve financial inclusion, and help low-income groups improve their standard of living.
According to Sharaf, the memorandum constitutes an important step on the map of expanding the work of the two banks and strengthening their partnership to exchange experiences in the interest of their clients.
Al-Ebdaa Bank had signed two work agreements with the two companies, Al-Haram for money transfers and Al-Fouad Exchange, aimed at enabling citizens dealing with the bank to receive loan amounts and pay the installments at the offices of these two companies, which saves customers time and money and reduces the burden of transportation.
It is noteworthy that (Ebdaa Bank for Microfinance Syria) announced in November of last year the completion of the process of reconciling its conditions and amending its statute in accordance with the provisions of Law No. 8 of 2021, according to which it raised the minimum capital of the bank to 5 billion pounds with the aim of supporting small and micro enterprises with loans and developing Training services.
Waseem Al-Adawi
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