The Syrian Finance Minister Forms a Specialized Committee to Address Troubled Bank Loans
In a move aimed at addressing one of the most significant challenges facing the banking sector, Finance Minister Mohammad Yasser Barnieh announced the formation of a specialized advisory committee to comprehensively study the reality of troubled loans at government banks.
According to a post by the minister on his official "Facebook" page, he clarified that this initiative comes "as part of the Syrian state's efforts to establish fairness and justice, and to stimulate the national economy." The committee will work on "proposing legal and practical solutions that ensure the recovery of public funds and reduce the burdens on borrowers, through incentive programs and encouraging exemptions."
To achieve these goals, the committee will be formed from "a specialized judge, banking experts, businessmen, legal professionals, in addition to representatives from the Ministry of Finance, the Central Bank of Syria, and the Central Financial Control Authority."
The committee will focus on finding fair settlements for the debts of the troubled borrowers that enable them to resume their economic activities, while lifting the seizures on them and their families, which contributes to the recovery of bank resources, improves financial stability indicators, addresses the liquidity crisis, and reduces future risks of troubled debts.
The minister confirmed that this strategic step "complements a comprehensive reform plan for the financial and banking sectors, which was previously announced in June," which includes reviewing the performance of government banks and updating their services, in cooperation with the relevant regulatory authorities, within the framework of the government's comprehensive reform vision.
