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Authorizing Commercial Bank’s branches to grant personal loans of up to 2 million Syrian pounds

Decisions

Authorizing Commercial Bank’s branches to grant personal loans of up to 2 million Syrian pounds

The Syrian Commercial Bank has issued a decision to authorize the branches, in addition to the Loan Center, to study and grant personal loans of up to 2 million Syrian pounds, provided that grants are made through a committee formed in the branches by a decision of the Director-general of the bank, whose mission is to study and audit the loan application after being referred by the auditor in the branch, and taking the granting decision after making sure of the adequacy of the documents in accordance with the instructions. The task of the Loan Department in the General Administration is limited to activate the loan.

The decision also allows to authorize  some branches in the bank to grant loans with a real estate collateral of up to 10 million SP, based on a study and analysis of the current work procedures in each branch to ensure the document cycle of work and the length of waiting channels and the need to take these steps as separate processes in order to reach the optimal procedure to achieve work requirements in order to save time and effort, increase the productivity of employees and improve the level of service.

By reviewing the complaints of the clients, as well as the observations of employees in the departments related to the problems they face during the implementation of the procedures, and measuring the time and effort expended in the performance and its proportion to the actual need for the sequence of steps, the Commercial Bank of Syria’s administration intends to take penalties against the branches that fail to work and are unable to keep pace with the active branches that have proven their effectiveness during the past few months as an experiment to simplify work procedures as efficiently as possible to achieve the required effectiveness in reducing the expended time and effort .

To date ,It is noteworthy that the number of personal loans granted so far has reached /3,674/ loans with a total value of /9.85/ billion Syrian pounds and the number of business loans has reached 44 loans worth/  1/ billion Syrian pounds.