PM Calls for Direct Measures to Address Collection of Defaulted Loans

Participants at economic forum advocate for reform through collection of debts, restructuring bank administration and legislation, as well as addressing the shortage in qualified staff

Prime Minister Imad Khamis on Monday called on public sector banks to take direct, forceful and clear steps to address defaulted loans and restore development loans.

During an economic conference chaired by the PM in the capital Damascus, participants said that financial reform must begin by collecting debts, restructuring bank administration and legislation, as well as addressing the shortage in qualified staff.

Discussions focused on the need to restore loans according to new regulations and conditions, with an emphasis on ensuring banks provide loans that suit their clientele.

The participants also discussed the resumption of funding for development purposes, with a focus on overcoming obstacles in the collection defaulted loans, particularly regarding businesses which have sustained damage.

This article was edited by The Syrian Observer. Responsibility for the information and views set out in this article lies entirely with the author.

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