Exporters Federation, Al Baraka Bank of Syria Sign Cooperation Agreement

Damascus - The Exporters Federation and Al Baraka Bank Syria signed on Monday a cooperation agreement aimed at providing banking services to exporters.

The agreement will contribute to the expansion of the joint business and enable the local product that to be competitive internationally in quality and price to reach the Arab and international markets," said Mohammed Abdullah Halabi, the Executive President of Al Baraka Bank.

For his part, head of the Exporters Federation, Mohamed al -Sawah,  said that the agreement is considered a core for creating an export finance bank because the exporter is in dire need of several capital, including cash liquefaction on the offer to provide liquidity for processes of cooperation.

He called on the rest of the banks to follow the example of Al Baraka Bank to establish an export finance section within each bank, noting that the agreement with Al Baraka Bank will have positive repercussions on the work and activity of exporters.

Sh. Kh.