القائمة

Public Banks

Commercial Bank of Syria

The Commercial Bank of Syria is considered one of the largest banking institutions in the country, as it accounts for a large scope of the total banking activity. Its share of the balance sheet of the banking sector is estimated at about 80%, and it accounts for more than 70% of the deposit and lending activity in the local market. The Commercial Bank of Syria was established in accordance with the Legislative Decree No. 913 dated 29 October 1966, and its capital amounted to one hundred and fifty million Syrian pounds when it was established. Pursuant to Legislative Decree No. 35 of 2006 regarding the Commercial Bank of Syria, the bank’s capital was increased to seventy billion Syrian pounds. Since its establishment, the Commercial Bank of Syria has been keen to provide service to the broadest possible segment of society through the largest network of branches and service offices, which is distinguished by its well-studied geographical distribution. The bank's success is attributed to several factors; the most prominent of which is perhaps keeping abreast with modern technologies related to its systems and services through a wide network linking the branches and their service offices. The bank works using modern software systems, used in a large number of international banks, and are constantly being developed.

Popular Credit Bank

The Popular Credit Bank is a public institution of an economic nature, with juridical personality and financial and administrative independence.

The bank was established by Legislative Decree No. 64 in 1966, and its establishment was amended by Decree No. 32 issued on 30 April 2005.

It is distinguished by distributing its services over a wide geographical scope. The number of branches reached 64 until 31 December 2013, spread across major cities and most major regions in Syria.

The bank has gained long experience in dealing with the market of small and medium enterprises due to its ancient, long-standing history, wide spread scope, and dealing with the largest segment of society by granting loans to people with limited income and various productive activities.

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.

Agricultural Cooperative Bank

Agricultural Cooperative Bank in Syria is a public institution of an economic nature with juridical personality and financial and administrative independence. It is linked to the Minister of Finance, and its headquarter is in the city of Damascus. Since its establishment on 15 August 1888, the Agricultural Cooperative Bank has been specialized in agricultural credit, and played an important and vital role in the agricultural development process in Syria throughout its long history. It has also contributed significantly and effectively to the development of the Syrian countryside. However, the economic and financial developments at the local, regional or international levels compelled the bank to reconsider its strategy and mechanism of action. This led the bank to radically amend its law in accordance with the Legislative Decree No. 30 of 2005. According to this amendment, the bank became a comprehensive rural development bank which provides all banking services and facilities of various types and forms to all clients. However, the bank mainly targeted, in its transactions, the rural population, who constitute the largest number, and the most widespread and productive segment in the Syrian society. The widespread of the bank over all rural areas helps performing this role, and makes it qualified to be a bank for all rural people. It is worth noting that the transformation process from a bank specialized in agricultural credit into a comprehensive rural bank, which meets all the needs of the rural population for financing and various banking services, must take place gradually according to a well-thought plan. This plan should consider the bank’s financial capabilities and its employees' qualification and training to provide new products, in addition to the priority in providing these products according to their significance and urgency. Moreover, it is worth mentioning that the bank has amended all its basic systems in accordance with the Legislative Decree No. 30 of 2005, and in line with the instructions and decisions of the Monetary and Credit Council. The purpose of these amendments is to incorporate information technology into the overall banking system, in addition to simplifying and facilitating the procedures for dealing with clients

Industrial Bank

The Industrial Bank of Syria is considered the only Syrian bank specialized in financing industrial activities. It was established in accordance with Law No. 177 of 1958 with a capital of 12.5 million Syrian pounds. The primary goal of its establishment was to support the local industry with all types of loans and banking facilities.

The bank's nominal capital has increased to ten billion Syrian pounds in accordance with Law No. 25 of 2009.

Law No. 28 of 2010 was issued, which abolished Law No. 177 of 1958. Accordingly, the objectives of the Industrial Bank are to provide loans to public and private industrial projects and other investment projects, and contribute to promoting the national economy via:

1. Providing credit facilities for various terms for a period not exceeding fifteen years.

2. Offering various banking services, including conducting external operations for the bank’s clients in a manner that does not conflict with applicable currency regulations.

3. Participating in national financial institutions and trading securities. The bank has the right to retain the securities it owns or sell them in accordance with applicable laws and for the bank’s interest in the financial markets, subject to the requirements of the bank's interest, after obtaining prior approval from the Minister of Finance.

Real Estate Bank

The Real Estate Bank is one of the largest and well-established governmental banking financial institutions in the Syrian Arab Republic. It provides its individual and corporate clients with various banking services. The bank was established pursuant to a legislative decree issued in 1966.

Law No. 31 of 2005 specified the objectives of the Real Estate Bank, as follows:

·       Carrying out all banking activities, services and facilities.

·       Supporting the urban and economic movement in the country by financing urban facilities (residential, tourist, industrial, commercial, health, educational and environmental activities, in addition to craftsmanship).

·       Meeting credit needs in the short, medium and long term.

·       Financing projects of housing cooperatives and companies, which aim at building properties intended mainly for housing, and supporting them.

·       Mobilizing resources and savings, and directing them to achieve the bank’s objectives.

·       Providing technical, real estate, legal and financial advice to the bank's clients, and researching ways to finance urban projects and their plans.

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