President

Based on the Constitution

As approved by the People's Assembly at its meeting held on 29-10-1975,

The following are issued:

Article 1 The capital of the real estate bank specified in Article 3 of the Legislative Decree No. 29 of 1966 The amendments amount to 100 million Syrian pounds, covering a period of three years of funds allocated in the general budget for this purpose and 25 % of the bank's annual profits.

Article 2 Add the words " Municipalities, institutions and public sector companies operating in residential construction " After the statement of the institution of housing, to the text of article 6, paragraph 1, of Legislative Decree No. 29 of 1966 and its amendments.

Article 3 Add to the end of article 6, paragraph 2, of Legislative Decree No. 29 of 1966 and its amendments, "Hospitals and Schools".

Article 4 Amend and incorporate paragraphs A and B of article 7 of Legislative Decree No. 29 of 1966 and its amendments and become the following form:

"To provide mortgage loans for five years, or ten years, to build and complete tourism facilities, hospitals, schools, and to supplement and expand housing, and for 15 years to buy and build homes."

Article 5 Amend the term in paragraph (e) of article 9 of Legislative Decree No. 29 of 1966 and its amendments to 10 years.

Article 6 The second paragraph of article 26 of Legislative Decree No. 29 of 1966 and its amendments shall be amended and made in the following form:

A book is being notified to the debtor directly to the debtor or with an open postcard, which is reported to the asset of the notification of the credit cards, for which the repayment period is 15 days from the date of notification, and the borrower or sponsor is reported to be in the place of residence specified in the loan instrument and in case This could not be attached to the funded drug, or to the bulletin board of the implementation of the area of the funded property area.

Article 7 Add (and endowments) Prior to the phrase, in paragraphs 2 and 3 of article 33 of Legislative Decree No. 29 of 1966 and its amendments, as well as the addition of a fourth paragraph to the end of article 33 of Legislative Decree No. 29 of 1966 and its amendments, this text reads:

The administrative authority provided for in the Act No. 14 of 1974, at the written request of the real estate bank, is committed to placing the mortgage badge, insurance and booking for its interest and order to the provisional real estate log sheets and for such references to the effect and argument of the references registered in the Land Registry, at the rank, privilege and conditions set forth in article 24 of this Law, shall transmit such references to the real estate record and shall be recorded in it.

Article 8 Amend the ratio in the first paragraph of article 37 of Legislative Decree No. 29 of 1966 and its amendments to 40 %.

Article 9. This Act is published in the Official Journal and is considered effective from the date of its promulgation.

Damascus at 3-11-1395 and 6-1-11-1975

President

Hafez al-Assad

mz