SYRIAN ARAB REPUBLIC

CREDIT & MONEY COUNCIL


CREDIT INTEREST RATES

CURRENT ACCOUNTS

1% ±1

TIME DEPOSITS

7-9% ±2

Lower rate on time deposits offered by bank should be at least 3% less than the highest rate offered

SAVING DEPOSITS (account limited to 1 million Syrian pounds)

6% ±2

KIDS SAVING DEPOSITS (account limited to 1 million Syrian pounds)

Same at one year time deposit

CERTIFICATES INVESTMENT

7%

Interest on saving accounts is calculated on a monthly basis on the lower balance trough the month, interest is accrued semiannually.

 Each person can hold only one saving account.

 

DECISIONS NO

DATE

SUBJECT

 

393

5/ 5 /2008

MODIFY DECISIONS NO 174 and 298 ABOUT DETERMINATION CREDIT INTEREST RATES PAID BY THE BANKS FOR ITS ACCOUNTS

 

298

18/ 6 /2007

BANKS MANAGEMENT COUNCILS CAN CHANGE CREDIT INTEREST RATES BY 2% UP OR DOWN

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216

16/ 8 /2006

UNIFIED THE INSTRUMENTS FOR DEBT INTEREST RATES TO PUPLIC BANKS WITH PRIVATE BANKS

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174

3/12/2005

MODIFY DECISIONS NO 172 FOR DETERMINATION CREDIT INTEREST RATES PAID BY THE BANKS FOR ITS ACCOUNTS

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