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Syrian Businessmen Don’t Repay Loans

Nabil Kozbari, Imad Ghrewati and Muaffaq Qaddah are identified as having not repaid loans
Syrian Businessmen Don’t Repay Loans

Bank sources specialized in Syrian businessmen living abroad have revealed that the total amount of unpaid loans to three high-profile Syrian businessmen exceeds 2 billion Syrian Pounds.


The loans are provided by three Syrian private banks, namely: the Saudi-French Bemo Bank, Byblos Bank and Audi Bank.


Banking sources said that Sham FM learned that the debts of the Vimpex company, owned by Nabil Kozbari, to Byblos Bank are 540 million Syrian Pounds, while to Audi Syria Bank, the debt is 540 million Syrian Pounds.


The source said that the company had received contracts worth millions of Syrian Pounds from the government between 2007 and 2010, and that the company's founder, Kozbari, is one of the most important banking founders in Syria. The reason behind his refusal to pay his debts is unknown.


The same sources revealed that loans from companies owned by Imad Ghrewati are about 850 million Syrian Pounds, 94 million of which are from Bemo Bank.


His companies are still functioning and have received millions of Pounds in contracts in the public sector, in addition to interests in foreign currency exchange with the Syrian Central Bank. He refuses to pay his debts.


The al-Mutanabi company, owned by Muaffaq Qaddah also has an outstanding loan of 133 million Syrian Pounds from Bemo bank. His son received another loan from Audi Bank. Both have stopped paying their debts.


Translated and edited by The Syrian Observer


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