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Amending the ceiling for opening term deposit accounts in Syrian pounds to /25/ million Syrian pounds.

Decisions

Amending the ceiling for opening term deposit accounts in Syrian pounds to /25/ million Syrian pounds.

 

- Based on the minutes of the Assets and Liabilities Committee No. 240 dated 26/2/2020, which includes the amendment and rising of the acceptable ceiling for term deposits in Syrian pounds.

 

We state the following:

First: Circular No. 219/80 dated 18/2/2019, which includes setting the ceiling for opening term deposit accounts in Syrian pounds, with a maximum of 50 million Syrian pounds, is terminated.

 

Second: All directorates and branches are required to abide by the following:

1. Opening term deposits in Syrian pounds, with a maximum of /25/ million Syrian pounds, for each customer.

2. Not to open a term deposit account for private insurance companies and private banks.

3. Obtaining an approval of the Planning and Development Directorate to open a term deposit account for amounts exceeding /25/ million Syrian pounds, whether it is  single or divided into several deposits, provided that the following subject is included:

“Approval to open a term deposit for the customer…… at the branch……”

With determining the total of the customer's deposits in the request.

4. Joint term deposit accounts are treated as individual accounts for each person separately, regardless of the order of the names. Therefore, the customer is not entitled to have a term deposit account that exceeds /25/ million Syrian pounds, whether it is individual or joint or whether it is a single or divided into several deposits.

 

5. These instructions shall be applied as of its date, and previously opened deposits are treated in accordance with the provisions of the decisions in force on the date of opening each of it and the terms of its duly signed contract.

To see and work with its content

The Director-general

Dr. Ali Youssef