Business & Economy

Syria… Affected by a Central Bank Decision

A director at the Syrian People’s Credit Bank indicated that dozens of citizens visit the bank’s branches regarding banking agencies stipulated by the Syrian Central Bank instead of judicial agencies.
And the director indicated that many of those who review the Syrian Credit Bank considered that the Central Bank’s decision confused the withdrawal operations, which were implemented by agents under a special judicial agency in terms of cases of the elderly and patients who could not come to the bank to perform the withdrawal process themselves or even implement a banking agency, in addition to that the problem seemed It is more clear through the auditors for account holders residing outside the country and who cannot travel and come to the country when needed to carry out a power of attorney.
He also added, that most of the auditors who have difficulty in dealing with the new Central Bank decision are retirees who did not accept the explanations provided by the workers in the banking branches.
As for the possibility of Syrian banks to grant and implement such banking agencies, the director stated that they are available and there are ready-made models for banks to work with. On the possibility of implementing this banking agency outside the bank, he stressed that such a procedure is fraught with risks, and that it is up to the management of the banking branch and its assessments of the situation, because such a procedure is a rule in some special cases, such as sick cases.
And last week, the Central Bank of Syria asked banks in Syria not to accept the implementation of cash withdrawals from accounts opened under a regulated agency with a notary public.

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