مصرف سورية المركزي

Press news about the Central Bank of Syria’s Management Committee’s decision No. 1101/SAR dated 8/18/2024, which includes allowing microfinance banks to open offices in malls and flexible offices:

The Central Bank of Syria Management Committee Decision No. 1101/L.E. dated 8/18/2024 was issued regarding allowing microfinance banks to open their own offices within the following places: (: (Large commercial complexes “malls” - flexible office service companies - universities - centers Citizen Service) or any qualitatively similar places, specifying the activities that can be provided through these offices in accordance with what is stated therein

The issuance of this decision comes within the framework of working to support the work of microfinance banks established in accordance with the provisions of Law No. 8 of 2021 and its executive instructions in terms of enhancing access and spread as much as possible for this type of bank by opening its various outlets on the largest possible scale in the country to reach the target segment of customers. On the one hand, while working to reduce operational costs for this purpose to the appropriate extent on the other hand, all of this is within the framework of keeping pace with the government’s approach to financial inclusion and working diligently and gradually to implement the largest possible amount of operations and transactions through banking channels.

Whereas, under this decision, the banking offices of microfinance banks that can be opened in the places referred to above are allowed to practice a large and important number of banking activities that are permitted for banking offices in general, namely opening current accounts and preparing the files of customers wishing to obtain financing or loans from the bank. And receiving installments of financing or loans granted, in addition to marketing the bank’s services and products that it provides, and in a manner similar to the activities permitted for banking offices that open independent headquarters according to Resolution 62/M.N of 2021, which includes the executive instructions of Law 8 of 2021, with the exception of (accepting deposits) and the possibility Handing over the amounts of loans granted, which remain the responsibility of independent banking offices and branches