President
Based on the Constitution

As approved by the People's Assembly at its meeting held in the date of 164-1437 A.H., May 2, 122-2015, my birth.

The following are issued:

Article 1

The words and phrases contained in this Act shall mean the meanings set forth by each of them ..

Bank: a public institution of an economic character with legal personality and financial and administrative independence and operates in accordance with the provisions of the laws in force, in particular the Law No. 2 For 2005 .

Board: Bank Board .

The debtor: the legal or natural person whose bank owes a debt to the bank. .

Debt: outstanding amount outstanding from loan or facilitation granted .

Dependents of debt: regular benefits, economic benefits, fines and all expenses and fees arising from debt .

DEBAND DEBAND: Amount owed by the bank to the bank, including debt and its consequences. .

Abandon: partial or total debt of the bank .

Settlement: Agreement between the Bank and the debtor or the intervener on the rescheduling of the debt block payment .

Settlement agreement: a contract between the bank and the debtor or the intervener to implement the settlement .

Short-term debt: debt with original maturity to the year .

Medium term debt: debt with original maturity more than one year and up to five years .

Long-term debt: debt with original maturity of more than five years .

Nodal period: regular interest received on board loan or facilitation contract .

Interest rate: Interest in the bank to be applied to outstanding amounts of debt .

intervener: natural or legal person who applies for settlement of the debtor as a sponsor, damaged or agent of the debtor's flag or without its knowledge .

Outstanding and outstanding premiums: Amounts and their benefits that the customer is late to pay and unpaid to the settlement date .

Article 2

a. The Bank may make a settlement in accordance with the provisions of this Law after ascertaining that the following conditions have been achieved together:

1. The debtor's inability to pay according to the defined benefit was established.

2. To prove that the settlement helps to pay and collect the debt mass with a greater efficiency than the alternative procedures available in accordance with the laws and regulations in force.

3. To prove the credit worthiness of the debtor or the intervener in the settlement date and its ability to pay according to the terms of the settlement to be concluded, and that the failure or inability to pay in accordance with existing contracts is due to reasons beyond the control of the debtor and after the determination of the adequacy of the guarantees.

b. Contrary to the provisions of Item A/3 of this article and the provisions of article 10/1, the settlement may be conducted in cases where the debtor's seriousness of payment of obligations is established, but it is not possible and for justifiable reasons to submit or strengthen his or her credit rating. with additional guarantees and settlement in these cases with the approval of the general manager of the bank." The Chairman of the Reconciliation Commission " and his responsibility.

Article 3

The Bank shall conduct the settlement under the following conditions:

a. A settlement of the entire debt mass for a maximum of ten years "including the period of grace" or the remainder of the base contract, whichever is longer. The duration shall be determined according to the type of religion and within the time limits specified in article 4/of this Law.

b. The maturity dates of the debt stock are fixed in monthly, quarterly or semi-annual instalments. The Board is determined by the settlement agreement based on the examination of the factors associated with the nature of the debtor or the intervening activity, the cash flow and the working capital cycle, and shall include reimbursement premium with interest.

c. Inclination interest rates are reestablished and debt adjusted for interest rates is subject to the rates approved by the Bank on the date of settlement and charged to similar credit facilities.

Article 4

a. The Board shall determine the repayment period of the debt mass, including the period allowed at the time specified below, or the remainder of the base contract, whichever is longer.

2 years maximum of the settlement agreement date for each short term loan.

b. The Council may, in the case of two or more debts, merge the debt masses and adopt the longer term in the settlement, in the event that the bank has an interest in it.

Article 5

a. The outstanding premiums outstanding as of the date of this Act shall be exempt from all benefits of delay and fines without interest in the event that they have been fully reimbursed within six months of the effective date of this Act.

b. The bank may accept the request of the debtor or the intervener to pay the full amount of the debt or all outstanding instalments outstanding with the debts incurred until the date of payment rather than the signing of the scheduling agreement. The outstanding instalments due to the previous debt contracts are due on their original dates. The condition of ascertaining The conditions under section A/3 of Article 2/of this Act shall provide for the partial payment of the debt "only outstanding instalments outstanding with the consequences of debt" and in accordance with the controls set out in the executive instructions of this Act.

Article 6

a. The application for settlement shall be submitted and registered in the office of the branch of the bank or the general administration of the bank. The bank must decide on the settlement request within three months of the date of the request to register all the required documents, and the debtor or the intervener must indicate in the settlement application and its responsibility to address it. In addition to that, he is entitled to report to any of the addresses, text messages or newspapers in the event that it is not possible to report any of the addresses as a product of its full legal effects.

b. A requirement to accept a settlement application is required to attach a financial nature to the value of 1000 Syrian pounds.
To attach a notice of payment of 5000 Syrian pounds to the bank to consider the request. This amount shall not be returned to the debtor in case of rejection.

c. A minimum of 5 % and 10 % higher than the total amount of outstanding and outstanding instalments at the time of the signing of the Settlement Agreement and in accordance with the operational instructions of this Law shall be fulfilled by the debtor or the intervener in good faith at a minimum of 5 % and 10 %.

Article 7

a. The bank may, by decision of the Council, waive the total debt in the two cases:

1. If the expenses incurred by the bank are to obtain a judicial ruling, the debtor is obliged to pay the debt and execute it or sell the encumbered eye beyond the debt mass or equivalent.

2. Ten years since the death of the debtor without leave and without a clear presence or guarantees of debt.

b. In the case of the demise of the situation that led to the renunciation of the debt mass to the Council, the debtor's claim to the debt mass in whole or in part, and it is not entitled to uphold the previous waiver.

Article 8

The bank may, by decision of the Council, waive the debt in part in the following cases:

a. The obligation of the debtor or the full intervention of the conditions of settlement only upon settlement for the first time in accordance with the provisions of this Law. The full benefits of delay shall be waived by deferment of the payment of the benefits of the delay to the final instalment and exemption from payment if the settlement conditions are fully met.

b. The debt mass exceeds the debt of debt so that part of the debt and the limits of the value of this override may be waived.

c. The payment of the debt by the debtor or the intervener shall be paid in full with the interest of the nodal period resulting from the purpose of the date of payment. The interest shall be waived and the outstanding fines in excess of the interest shall be waived.

d. The payment of a good faith payment by the debtor or the intervener, which exceeds 50 % of the debt mass, at which point 50 % of the full interest rate and the outstanding fines that increase the interest shall be waived if the remaining outstanding portion of the debt mass is subject to settlement according to the debtor's interest. The provisions of this Act.

Article 9

Debt or its funds, which are no more than 25,000 Syrian pounds, which have been more than fifteen years old, have not been collected or raised by bad debts, and the allocations are dealt with in accordance with the regulations in force, and the amount is increased or reduced by decision of a minister. Finance at the request of the bank concerned .

Article 10

a. The governing bodies of public banks are committed to adopting the detailed regulations governing the process of resolving requests, settlement processes and partial or total waivers that are in accordance with this law and its executive instructions so that such controls include a clear definition of those who are entitled to take a decision on this issue. Requests within the bank and the distribution of these powers between the committees that will be formed by the bank by the volume of credit facilities, the subject matter of the settlement and its relative importance, as follows: :

1. Formation of a committee in the public administration of the bank by a decision of the council called the Reconciliation Committee headed by the director general, whose task is to follow the settlement processes that are carried out in accordance with the provisions of this law, as well as to decide on settlement applications whose value is greater than that of the branch committees, and not to the extent that they are not. exceed the limit shown by the detailed controls referred to above .
2. The formation of committees in some branches and a decision by the Director-General to examine requests for settlement and to decide on requests that do not exceed the limit set out in the detailed controls referred to above .
3. The Board is due to decide on settlement applications in the following cases. :
   1. 3/1 / Exceptional cases that do not apply to detailed controls adopted by the Board and in violation of the provisions of this Law and its operational instructions .
   2. 3/2 / Cases exceeding the limit set out in the detailed controls referred to in item A. 2 above .

b. The parties specified in paragraph (a) above comply with the requests for settlement based on their decision to study a detailed and reasoned study prepared in accordance with recent and accurate inquiries that deal with the situation of the debtor, the intervener, the debt and its subsidiaries, the financial position of the debtor or the intervener, and the guarantees in kind and personal He has an opinion on the settlement request and the reasons for tripping and proposing all that is useful and appropriate in this matter and so that this study will be raised to serve as the basis for the appropriate decision by the competent authority, as specified in paragraph (a) above. .

c. The Committee for Reconciliation will report periodic reports to the Council on the settlement processes conducted in accordance with the provisions of this Law, with a view to ascertaining the adequacy of the action taken with regard to the settlement processes and to enable the Council to take appropriate decisions in this regard .

d. The Board and the Committee have the right to have access to competent and experienced debts and to manage risks. The bank is entitled to give such expertise appropriate compensation in accordance with a decision made by the Minister of Finance and without complying with the ceilings adopted by the laws and regulations in force. .

Article 11

a. The settlement agreements organized in accordance with the provisions of this Law include the full amounts due and undue provided that the agreement is signed within thirty working days starting from the day after the date of the date of the debtor or the intervening decision .

b. The Bank is obliged to notify the debtor or the intervener of the settlement decision within a maximum of ten working days from the date of this decision, and if that is not possible for reasons beyond the will of the bank, the settlement decision shall be considered null and void after 40 working days on the date of its issuance. .

Article 12

The outstanding outstanding bonds between the bank and the parties to the bonds are settled for a period not exceeding the legal term of the bond, and the payment shall be on one payment or payments. The bond parties will pledge to the bank to comply with the settlement agreement. .

Article 13

The settlement agreement is void if the debtor or the intervener has partial or total payment of the payment of four monthly instalments, two instalments or a semi-annual premium. It requires the fines and the benefits of the exempted delay so that the debts covered by this Act are returned to their original accounts and to each settlement and all Debt on a separate basis and applied to premiums due to bank interest rates .

Article 14

The guarantees provided for the debts to be settled according to this law are in effect, and the remaining debtors, sponsors and guarantors, and their heirs, remain committed to their previous commitments to the bank, and in case of insufficient guarantees, additional guarantees are required according to what is specified in the instructions. The executive of this law. .

Article 15

The debtor or the intervener shall benefit from a payment period for the average outstanding for 30 days from the date of the day following the date of maturity without prejudice to the right of the bank to impose the due benefits from the day after the due date and to the date of payment .

Article 16

a. The debtor or intervener shall be granted a grace period to pay the first instalment no later than six months from the date of signing the settlement agreement.

b. The debtor or the intervener is entitled to pay any instalment in advance of schedule without any additional costs, and the interest amount is deducted from the period between the date of payment and the early due date of the instalments received .

Rule 17

The suspension of prosecution and executive actions to a stage without the sale of public auction and the suspension of the execution of the judicial rulings concluded against the debtors and sponsors who are subject to the provisions of this law while keeping the executive file in place without the need to renew it, and if the settlement agreement is considered In accordance with the provisions of this law and its executive instructions, judicial and executive procedures are followed up in accordance with the stage reached and the results arising from them. .

Rule 18

a. Specifies the number of times a settlement may be used in accordance with the provisions of this Law within its executive instructions, with specific controls defined and so that the rate of goodwill will be doubled each time the rescheduling or settlement process is reapproved .

without prejudice to the most severe provisions and controls provided for in the legislation in force, the debtors covered by this Act shall not benefit from any new loan or credit facility directly or indirectly from the bank itself for the duration of the settlement. .

c. The Council may exclude from the provisions of paragraph (b) above the approval of the granting of a new credit agreement by the debtor to the settlement agreement after payment of at least 50 % of the debt mass that has been subject to settlement under the provisions of this Law .

Rule 19

The provisions of this Act shall apply to all debts of the Bank on the date of its entry into force or to be established .

Rule 20

The Council shall be competent to respect any subject relating to settlement without violating the provisions of this Law and its operational instructions .

Rule 21

The Board shall review its system of operations and adopt the controls referred to in Article 10/pursuant to this Law no more than three months after the date of its operation .

Rule 22

The provisions of the Trade Act and other relevant regulations and laws apply to all those that have not been provided for in this Act.

Rule 23

The provisions of Decree No. 213 of 2006 are terminated .

Rule 24

Minister of Finance Operational instructions To this law. .

Rule 25

This law is published in the Official Journal. .

Damascus at 18-3-1437/ A.H., 29-12-2015) .

President
Bashar al-Assad

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