Justice Minister: Banking courts will help curb loan debt evasion

Damascus, SANA – Justice Minister Najm Hamad al-Ahmad said that the newly-formed banking courts will help speed up cases related to commercial issues and curb debt evasion in terms of loans taken from banks.

During a training course on the law no. 21 for 2014 which formed first instance and appeals banking courts in all provinces, al-Ahmad said that the crisis in Syria led to a growing number of debt evasion cases, with several people who took large loans traveling abroad, while others use the current circumstances in the country as an excuse to not pay, despite the repeated opportunities given by the state to reschedule their loans.

For his part, Governor of Central Bank of Syria Adib Mayyaleh said that law no. 21 is a step towards specialized judiciary and fulfill a recurring demand made by the banking sector, as it will facilitate settling banking lawsuits and deter infringements.

Hazem Sabbagh

Check Also

Cooperation agreements on development of business sector at the conclusion of Serv-Ex Forum 2022

Damascus, SANA- With the participation of 265 local, Arab and foreign enterprises, activities of International …