The Saving Bank

The Saving Bank is a governmental institution, which evolved from a public institution previously established in 1963. It was called the public establishment for the Postal Savings Fund, which worked under state supervision to accept and manage saving deposits with the aim of absorbing the cash mass in circulation to maintain the exchange rate of the Syrian pound and limit monetary inflation. The name was changed by the Regulatory Decree No. 485 dated 21 October 2000 and become the Saving Bank.

Since 2000, numerous amendments have been implemented in the operating system of the Savings Fund. In addition to accepting all types of deposits, these operations currently include children’s savings accounts, checks, remittances, and various banking operations available in Syria. What is unique in the bank’s operating system is the allowance for the Saving Bank to initiate investment projects, participate in them, or contribute to such projects implemented by the public, joint, and private sectors. Additionally, this system enables the bank to grant tourism loans, as well as loans for projects developed according to the Investment Law, and loans for the unemployed.