Activities of the 1st Specialist Conference for Banks and Insurance Opened
Damascus, (ST) – Deliberations of the 1st Specialist Conference for Banks and Insurance opened yesterday at the Sheraton Hotel in Damascus under the title “in the face of challenges and difficulties”. Participants will discuss during the two–day event the role of insurance companies and banks in the Syrian economy in light of the crisis and the reality of health insurance.
In the opening ceremony of the conference, Finance Minister Dr. Ismail Ismail stressed that the public and private banks, despite the economic unjust blockade imposed on Syria,” did not give up the performance of their functions and their employees and did not stop depositors”.
“Confidence has returned back in the banking sector since the beginning of 2013,” deposits rates rose gradually and liquidity improved, reaching proportions currently in the estate Bank 33 percent, in the business 38 percent and in savings of 35 percent and resumed granting operating loans to finance small and medium projects specifically in the agricultural and industrial production sectors of traditional handicraft, whereas private banks continue to grant loans”. Ismail added.
He stressed that “The banking sector is fine and strong”, it is supported by a strong legislative and what is “more importantly, awareness and support of the Syrian citizen and his commitment to national institutions.”
“That the insurance stability and defiance of the conditions experienced by the sanctions imposed on Syria, especially the ban on insurance companies is another evidence of the resilience of one of the components of the Syrian economy,” Ismail said.
With regard to health insurance, the minister clarified that this sector is still providing services to citizens in spite of all the difficulties faced by and of the departure of a large number of health centers and hospitals from the service because of the terrorist acts in addition to the high cost of medical services.
Participants will discuss topics such as insurance, reading in the role of insurance companies in the Syrian economy, the reality of health insurance, harmonization of regulatory measures on banks, insurance companies and their reflection on the revitalization of Damascus Securities Exchange, the role of banks in the Syrian economy in the current crisis, the current and future role of insurance companies in the process of rebuilding and reconstruction in Syria, banks role in supporting of small businesses and the prospects for expansion and possible development and the positive role of management companies in the continuity of the health insurance system in the light of challenges.
In parallel with the conference a specialized exhibition for “new products” offered by insurance companies and banks, such as “new credit facility” and the advantages of “health insurance” and others will be presented.
Sharif al Khatib