The Savings Bank has agreed with the Syrian General Insurance Corporation on “insurance on loans for people with limited income” that is granted by the bank so that the insurance policy is the primary guarantor for the borrower in addition to life insurance.
The Director General of the Syrian General Insurance Corporation, Nizar Zayoud, said that the agreement contributes to easing and simplifying the procedures for granting loans by the bank, especially the difficulties these borrowers face in securing guarantors, according to what the Syrian news agency “SANA” reported.
For her part, Director General of the Savings Bank Raghad Masab stated that the agreement with the Syrian Insurance Company will benefit all relevant parties, especially borrowers with limited income as a target group for this type of loans, indicating the importance of cooperation between the banking and insurance sectors to achieve the common and public interest.
It is noteworthy that the Savings Bank raised the highest development value for civil and military workers in the state to two million pounds instead of one million, in accordance with the controls and procedures in force in the executive instructions for low-income loans.
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