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[size=36]Syria .. For the first time loans precede deposits[/size]
Economy | 10:47 - 26/08/2019
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The Governor of the Central Bank of Syria, Hazem Qarful, warned that the Central Bank will take harsh and deterrent measures against any bank that proves the results of the supervisory missions in violation of the instructions and regulations in force.
During a recent meeting, the Ruler praised the representatives of banks operating in foreign exchange, praising the results that the banking sector was able to achieve during the first half of this year.
He pointed out that this sector has moved, despite the circumstances that accompanied the war on Syria, from loss to profit, and despite the tightening of economic sanctions, which has had a negative impact on the economic and banking levels, the sector has witnessed a growth in the size of the loan portfolio of 15%, which exceeded For the first time, the growth rate of deposits of 10% during the first half of 2019.
He considered that the Central Bank as supervisor and directed to the banking sector is satisfied with the performance of the banking sector, stressing at the same time the need to exercise caution in banking, without exaggerating, under the current circumstances that Pass by the country.
Ruler also touched on the issue of lending and the difficulties faced by him and said that what is required is not to rush in the process of granting loans that are not studied and away from the standards and best practices, under the pressure of a surplus of accumulated liquidity, saying that what is required is to inject the required liquidity into the appropriate employment channels, whether for the productive sector or residential Or personal, not falling into another troubled debt crisis.
He pointed out that it is necessary to achieve a balance between financing the projects that meet the required conditions, such as economic feasibility, financial solvency of the borrower and properly assessed guarantees, on the one hand, and allocating sufficient supplies to hedge against the credit risks associated with the granting process, on the other hand.
He pointed out that this sector has moved, despite the circumstances that accompanied the war on Syria, from loss to profit, and despite the tightening of economic sanctions, which has had a negative impact on the economic and banking levels, the sector has witnessed a growth in the size of the loan portfolio of 15%, which exceeded For the first time, the growth rate of deposits of 10% during the first half of 2019.
He considered that the Central Bank as supervisor and directed to the banking sector is satisfied with the performance of the banking sector, stressing at the same time the need to exercise caution in banking, without exaggerating, under the current circumstances that Pass by the country.
Ruler also touched on the issue of lending and the difficulties faced by him and said that what is required is not to rush in the process of granting loans that are not studied and away from the standards and best practices, under the pressure of a surplus of accumulated liquidity, saying that what is required is to inject the required liquidity into the appropriate employment channels, whether for the productive sector or residential Or personal, not falling into another troubled debt crisis.
He pointed out that it is necessary to achieve a balance between financing the projects that meet the required conditions, such as economic feasibility, financial solvency of the borrower and properly assessed guarantees, on the one hand, and allocating sufficient supplies to hedge against the credit risks associated with the granting process, on the other hand.
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