AGRICULTURAL COOPERATIVE BANK

Speech by the General Manager

- Agricultural Cooperative Bank in Syria is a public institution of an economic nature, have a legal personality and financial and administrative independence, participate in the development of the national economy, linked to the Minister of Finance, based in Damascus.

- The nominal capital of the bank at 10 billion Syrian pounds. Sat, this is entirely paid.

- The agricultural cooperative bank has allocated to the agricultural credit since its inception in 1888, and has played a vital and important role in the process of agricultural development in Syria through its long history, and contributed significantly and effective to the development of an and rural areas, but the economic and financial developments that have taken place both at the local or regional or the national required the Bank to review of the strategy and mechanism of its work in line with these developments, this prompted the bank to modify its law radically amended by Legislative Decree No. / 30 / of 2005, where it became the Development rural comprehensive Bank under this amendment, namely, that it has the ability to provide all banking services and facilities of various kinds and forms, to all dealers, but the bank targeted in dealing the rural population mainly who constitute the largest segment and the most widespread and most productive in the Syrian society, help the bank to perform this role that it covers the wide spread of all regions rural, this is what makes him eligible to be the bank of all rural, with no need for them to deal with any other bank, and we ensure the bank concern to provide products and services at competitive prices, and his constant and tireless work to raise the level of performance, and improve profitability, and enhance and strengthen its financial position.

- It should be noted that the process of transformation from the specialized bank of agricultural credit to the comprehensive rural bank meets all the needs of rural populations to the funding and the different banking services, must be carried out gradually in the master plan, taking into account the financial possibilities of the bank, and the rehabilitation and training of employees to provide the new products, taking into account the priority in the provision of such products in order of importance and the need, and it was pointed out in this area that the bank is currently seeking to provide new products that are significant and non-traditional, by establish an operations system of banking according to the Islamic versions, and engage these processes in all branches of the bank separately from the traditional processes, and through special windows for this, of course this will attract a large segment of the population of rural areas of Syria, who are reluctant to deal with traditional banks and prefer banking in accordance to the provisions of Islamic law.

-  I should note also that the bank has modified all its own basic systems in line with Legislative Decree No. / 30 / 2005, and in conformity with the instructions and decisions of the Monetary and Credit, as well as the introduction of information technology in the overall banking system, taking into account the simplified and streamlined procedures for dealing with customers, and _ of course _ the process of development and modernization of systems is the process of a permanent and ongoing, and it must keep pace with the movement of time with all the factors and variables.

General Manager of

Agricultural Cooperative Bank

Faisal Qassem