Damascus-SANA
The Savings Bank continues to work on implementing its new program, which it launched at the beginning of this year, to finance micro, small and medium enterprises, and to provide all credit facilities to them, while it is currently preparing executive instructions for granting loans to people with limited income with an insurance guarantee from the Syrian General Insurance Corporation.
In a statement to SANA reporter, Raghad Maasab, the bank’s general director, revealed that the number of micro and small development projects that were granted loans from the beginning of this year until the end of last October amounted to 102 projects with a total lending volume estimated at 559 million and 855 thousand Syrian pounds, in order to establish “industrial” projects. commercial and agricultural production.
Micro-development projects funded by the bank recorded a significant increase, with a total number of 97 projects, compared to small development projects, which amounted to 5 projects during the same period, according to Maasab, noting that the bank is currently studying a number of loan requests for medium development projects, a decision will be taken to grant them before beginning of next year.
With regard to loans with an insurance guarantee, Maasab explained that the bank has completed many procedures related to the implementation of the initial agreement with the Syrian Insurance Company to grant loans to people with limited income with an insurance guarantee at the beginning of next year, and the bank obtained the necessary approvals from the Ministry of Finance and the bank’s board of directors to amend its operations system to accept this type of loan. Insurance guarantees, preparation of banking technical systems, and preparation of necessary forms for granting loans.
And she indicated that a number of training courses were set for employees in the bank’s management and branches on issuing an insurance policy according to the agreement with the institution that authorized the bank to issue this, indicating that granting loans to people with limited income with an insurance guarantee would expand the segment of customers with the bank and reduce the burden on the shoulders of borrowers in the search. For personal sponsors.
The bank is also currently studying raising the ceiling of the limited income loans it grants, according to Maasab, revealing the signing of an agreement with the Loan Risk Guarantee Corporation to provide the necessary guarantees for granting loans to small and medium enterprises. To be followed to ensure and promote the risks of loans.
Wassim Al-Adawi
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