1- la Banque Commerciale de Syrie :

 La Banque Commerciale de Syrie a été établie au début de l'année 1967, afin de servir les activités économiques et commerciales dans la Syrie. Avec un capitale qui revient actuellement à un milliard les Livres syriennes. La banque a par-dessus cinquante branches étalés partout dans les provinces et les villes majeures du pays, en plus de 32 centres de Devises présentant dans tous emplacements de contact avec les touristes, les visiteurs et les arrivants au pays. Le Bureau de Tête de la Banque Commerciale de Syrie (le CBS) est localisé dans Damas, la capitale. A l’adresse suivante:

Banking facilities:

The bank offers its customers many banking facilities like letters of credits in Syrian Pounds or Foreign currency. These are usually put under the customers’ disposal for a specified time. The Banking facilities include:

1- Commercial Bonds’discount.

2- Purchasing bills of exchange drafts at sight

3- All types of credits

4-Debtor current account

5- Loans

6- Letters of credit

7- Letters of guarantee

8- Acceptances

The Board of Directors usually decides the highest volume for each of the facilities provided to customers.

Banking Services

The Commercial Bank of Syria provides its customers with a wide range of services. These include:

1- Acceptance of deposits and opening Creditor current account in Foreign currency or Syrian Pounds

2- Issuing and purchasing payment orders, cheques, personal letters of credit and credit cards

3- Buying and selling foreign currency

4- Collecting bills, cheques, drafts and documentary bills of lading

5- Stocks transactions and general bonds

6- Safe Deposit Box Leasing

7- Providing commercial and technical information

8- Performance of agency, vicarial and administration work

Back to Public Banks in Syria

2-  Cooperative Agricultural Bank

Established in 1888

AIMS AND PURPOSES OF THE BANK:

1. Performance of all real and cash agricultural loan and credit operations to all economic sectors (public, cooperative and private).
2. Encouragement of forming agricultural cooperative societies, especially the multipurpose agricultural cooperative societies whose main aims are saving and credit.
3. Encouragement of agricultural saving, acceptance of all deposits and performance of all banking operations needed by the agricultural cooperative societies.
4. Promotion of all agricultural projects in Syria which lead to the support of agricultural cooperation and agricultural economy in Syria for the advancement and development of the rural community.
5. Activation of small ownership and investments and granting special privileges to agricultural cooperative societies as well as favoring them with priority in loans and credits.
6. Provision of agricultural production requirements at the proper quantities, qualities and dates.
7. Encouragement of agricultural producers to develop the better exploitation of the natural agricultural resources such as mechanization in order to increase the returns of the area unit.
8. Participation in land improvement through encouraging irrigation loans and converting large areas from dry to irrigated farming.
9. Control of the investment loans which grants verification of the feasibility of the projects and the employment of loans for the purposes for which they were granted.
10. Participation in speeding up the patterns of agricultural development in Syria and hence, participation in achieving food security.

Back to Public Banks in Syria

3- Real Estate Bank
 

Back to Public Banks in Syria

4- Industrial Bank

Bank foundation:

The bank was founded in 1958 and commenced operation in March 1959

Bank Objectives and Purposes

1.Banking facilities :

The bank provides the following facilities to the industrial sector (public, mixed, cooperative, private and vocational)

• Short term loans for a period that does not exceed one year as to finance the working capital , purchasing raw materials and the procurement of production requirements.
• Medium term credits for a period that exceeds a year up to less than five years as to finance setting up industries and trades whether for purchasing machinery and equipment or for the erection or purchasing buildings for manufacturing or trade purposes.
• Long term loans for a period that exceeds five years but not more Than ten years, as to finance setting up industries or trades whether for purchasing machinery and equipment or for the erection or purchasing buildings for manufacturing or vocational purposes.
• Debit current accounts to the public and mixed sectors and cooperative and trade societies, only to secure their necessary requirements of cash money within a narrow limit. These accounts are active accounts.
• Discount of commercial and industrial promissory notes and purchasing cheques and drafts.
• Advances on export shipping documents at a specified rate of each exported shipment value.
• Advances on export contracts at a specified rate of each exported shipment value .
• Non-cash facilities such as guarantees and “acceptances”.
• Financing the graduates of university colleges and intermediate institutes in mechanical and electrical engineering fields, and the industrial institutes and the like there to that are related to industrial field as well as industrial secondary school graduates and training centers, according to rules and special incentives rulings.
• Financing inventors whose inventions are of industrial nature, as per the incentive special rulings.
• Financing against industrial saving in specific amounts in proportion to the mount and term, of saving, in accordance with the special incentive rules.

2. Banking services:

The bank provides the following services:

• Accept deposits and open credit current accounts.
• Issue cheques and transfers and certify cheques drawn on the bank .
• Collect notes, checks and drafts.
• Give Technical advice and provide information, pursuant to the operation system provisions and all other services that are not related to foreign currency.

Third: Bank investment development in the industrial sector, its deposits and number of branches

• Total bank investment in the industrial sector rose from s.p.80 million by end of 1970 to s.p.1575 million by end of 1990 and to s.p.3825 million by end of 1996.
• The deposits at the bank rose from s.p.65million by end of 1970 and to s.p.1457 by end of 1990 and to s.p.3623million by 1996.
• Number of the bank branches increased from 3 by 1970 to15 branches by 1996

Back to Public Banks in Syria

5- Popular Loaning Bank.

Back to Public Banks in Syria

6-  Post Office Savings Fund

The Post Saving Fund has been established by Legislative Act No. 119, issued on 31st July 1963.

· The objects of the Establishment are to receive, manage , and invest saving accounts, and to return them to their holders.

· The Establishment is a corporate body, controlled and sponsored by the state.

· The Establishment enjoys administrative and financial independence.

The head-office is located in Damascus, and it has got 57 branches and offices positioned all over the country, according to the following diagram :

-Interest Rates granted to account holders as per the following accounts :

1. Saving account with interest of 8% per annum.
2. Current account ( with cheques ) , with interest of 8% per annum.
3. Children's accounts with interest of 9% per annum.
4. Fixed Deposit Accounts of two types :
a- Deposit for six months with interest of 8.5% per annum.
b- Deposit for one year with interest of 9% per annum.
5. Bank transfers among the branches of the Bank
· Any individual is entitled to hold any of the above mentioned accounts with other persons, jointly or severally.

Facilities granted to the Bank customers
1- All operations and procedures of the Bank, belonging either to depositors or to the Bank are free from stamp fees. Profits of negotiable capitals and interests of deposited amounts are free from income tax..

2- Objections to return deposits to their owners or to beneficiaries or their representatives are rejected unless they have been issued by competent courts or if the applicant for amount recovery was disqualified or sentenced in absence, whereby legal provisions are applicable.

3- It is not allowed to levy liens on the amounts deposited in the Bank nor on their interests, whether during the lifetime of depositor or after his death. It is permissible to assign these amounts in compliance with the conditions and procedures set forth in the Bank. Regulations.

4- All operations effected by the customer with the Bank are confidential. It is forbidden to release any information to third parties unless the request has been issued by competent jurisdiction authority, or by entitled individuals after presenting legal documents supporting their entitlement.

5- The account holder (depositor) has the right to draw or deposit money in branches/offices other than the branch/office where his account has been established without any commissions.


6- It is permissible to open an account at the Bank for a corporate body provided that proof documents certifying the legality of existing corporate body and the decision authorizing a representative of the corporate body to deal with the Bank.

7- The interests of saving accounts and current accounts are issued on quarterly basis and are directly entered into the dealer's balance.

8- The Bank conducts a periodical lottery of the dealers' accounts on quarterly basis.

9- Individuals of full majority power or minors attaining the age of sixteen can apply for opening accounts in their names at the Bank.

10- Children who have not attained the age of sixteen are entitled to open children's saving account , provided that their accounts would be operated by their guardians.

11- Deposits are fee from inheritance tax.

Bank's Investments :

1) Loans :

1-The Bank offers loans to companies involved by Law No. 10 of 1991,
2- tourist Establishments, licnesed by the Ministry of Tourism,
3-and the Bank shares in the capitals of joint sector companies and joint stock companies .
4- private Universities & Institutes .

2) The most interest Investment :

· Internal Public Debt Bank
· Investment Certificates
· Al-Karnak Company
· Al-Shark Travel & Tourism Co.
· Bab Al-Faraj Hotel & Tourism Co.
 

For information purposes one may contact :

E-mail: post-gm@net.Sy
           s.bank@scs-net.org

Tel : ( 00 963 - 11 ) 2228403
Fax: ( 00 963 - 11 ) 2244909
Po.box : 5467

Back to Public Banks in Syria