ICC Syria E- Newsletter - October 2024 Edition Sponsored by Fransabank Syria

Fransabank Syria S.A. Profile

Fransabank Syria was established as a Syrian company (S.A.), registered in the commercial registry under number 15413 on 13/07/2008, with its headquarters located in Abu Rummaneh, Damascus. It was founded in accordance with the Private Banks Law No. 28 of 2001, with the objective of accepting deposits, providing loans, and conducting all financial and banking operations according to the applicable laws. Fransabank Syria was registered in the Banks Registry under number 18 and started its banking operations on January 15, 2009.

The bank offers all banking services through its headquarters and a network of branches distributed across the Mohafazat as follows:

Damascus, Rif Damascus, Homs , Aleppo, Latakieh, Tartous

Fransabank Syria has a substantial Net Equity base of around 600 billion Syrian pounds, enabling it to expand its operations and keep up with developments.

The bank provides all banking and financial services through its main office and branches, including:

- Opening current accounts, savings accounts, and accepting term deposits in various currencies.

- Financing commercial transactions, granting loans and credits in Syrian pounds and foreign currencies, as well as pre-financing exports and imports.

- Documentary credits (opening and receiving letters of credit for import purposes, presenting bonds for collection, opening and receiving import collections, and letters of guarantee).

- Corporate financing, including working capital requirements, facilities, project financing, syndicated or joint loans.

- Discounting commercial papers.

- Retail banking services such as personal/consumer loans, housing loans for individuals, and providing credit card services.

- Electronic banking services, including integration with the ATM network of other commercial banks, the deployment of Point of Sale (POS) devices, and online banking.

All the services mentioned are offered to meet market needs. In general, the bank provides all financial and banking services, discount and lending operations, and the issuance of guarantees in accordance with foreign exchange regulations and within the limits set by the Monetary and Credit Council of the Syrian Arab Republic.