President
Based on the Constitution

As approved by the People's Assembly at its meeting held on the date of 7-1-1431 A.H., 23-12-2009 AD,

exports Mili ...

Article 1

The following words and expressions in the application of this Law shall mean the following:
Ministry of Finance
Minister: Minister of Finance
The Authority: The Public Authority for the Supervision of Real Estate Financing.
Board of Directors: Board of Directors of the Public Authority for the Supervision of Real Estate Financing.
Director General: General Manager of the General Authority for Supervision of Real Estate Financing.
Real estate finance: finance activity for investment, whether for the purpose of buying, building, renovating or improving housing, service facilities and real estate intended for residential, commercial, industrial, tourist, agricultural, service, or other purposes issued by the minister, and whether it is done. This is in traditional formulas or in the Islamic formulas, such as the rent and taps, by guaranteeing the right of privilege over the property or its mortgage subject to the possession of the property in the case of the expired lease or other of the guarantees accepted by the financier, according to the report. to the rules and procedures established by the executive instructions of this Act.
The assessor: is every natural person approved by the body in his name or for the account of a legal person and for his or her responsibility to evaluate real estate and express an opinion on the fair value of the real estate of its kind.
The Evaluation Company is a company licensed by the Authority to exercise the profession of real estate evaluation and institution under the provisions of civil law, commercial law, and this law.
Tap: It is a financing process for construction on a property owned by the beneficiary, under which the beneficiary is contracted to construct the construction at an agreed price and a specifications defined by the beneficiary and based on this contract, the financier contracts a contractor to carry out the construction according to the specifications he puts in place. The beneficiary.
The beneficiary: Every natural or legal person who owns a property and wishes to build upon it with specific and very specific specifications that he wishes to do.

Article 2

In the Syrian Arab Republic, a public body called the Public Authority for Mortgage Finance, which has legal personality and financial and administrative independence, is linked to the minister and is based in the city of Damascus, and branches and offices may be established in the governorates by decision of the minister based on the minister's decision. Proposal by the Governing Council.
It is issued by decision of the Minister on the proposal of the Director General:
a. Rules of procedure of the Commission.
b. Financial regulations of the Entity.

Article 3

The organization aims to:
a. Organization and supervision of the real estate finance sector to strengthen its role in the national economy and to develop savings in the real estate sector and to regulate the real estate finance market in the Syrian Arab Republic.
b. Protection of the rights of the various parties involved in real estate financing operations and supervision of the solvency of those who work in real estate financing activity and the Real Estate Financing Support Fund.
c. Work to raise the performance and efficiency of real estate finance workers and to require them to practise their profession and ethics to increase their capacity to provide better services to beneficiaries of real estate financing and to achieve positive competition among them.
d. Work to provide such financing to different groups of society according to their needs and financial means, taking into account the conditions of the limited and middle income earners and new families, whether by working to reduce the cost of lending and providing it through savings and investment channels and setting operational instructions Criteria for limited income determination.

Article 4

The Authority shall prepare and complete the procedures for issuing draft "legislative, regulatory, decrees, decrees" related to real estate financing, activities and activities, and their supervision, in particular, Mili:
1. Land financing agreement.
2. A system under real estate and the right emerging from the financing agreement.
3. System of establishment and licensing of real estate finance companies.
4. Creation of the Land Guarantee Fund.
5. Organization of the profession of experts and real estate evaluation companies.
6. Establishment of the National Real Estate Finance Corporation.

Article 5

To achieve its objectives, the Authority shall exercise the following functions:
a. To study and follow the general situation of the real estate market and to regulate and guide the activity of real estate financing and to establish its general rules in the light of the provisions of this law.
b. Development and approval of the rules and assets of the profession.
c. To take measures and measures to ensure the efficiency of the real estate financing market and to preserve the rights of dealers.
d. To study and decide on licensing applications for real estate financing companies and to propose that they grant them the necessary license to engage in their activities and follow up on their work and supervision.
e. To decide on applications for the merger, arrest or liquidation of assets of real estate finance companies, all or part of them.
f. Preparation of basic condition models for real estate financing.
g. The Authority shall regulate the business of real estate finance companies as financial companies in a non-conflict with the laws in force.
h. Establish the conditions governing the filing of applications for licensing of mortgage providers.
i. Preparation and maintenance of schedules and supervision of the names of experts and evaluation companies accredited to the body referred to in this law and supervision of their activity.
i. To enable all relevant to this topic to familiarize themselves with the records, reports, documents and other papers relating to the activity of real estate financing or to obtain official extracts from them, without prejudice to the provisions of the laws governing the confidentiality of information and in accordance with the provisions of the Organization; The rules and procedures established by the regulations and decisions to be placed after the promulgation of this Act shall be made for an allowance to be determined by the Board of Directors.
k. Provision and dissemination of adequate information, statistics and data on real estate financing activity in the Syrian Arab Republic.
l. Development of wise and wise management system and the methods and procedures of the meetings of the Public Authority and the Board of Directors and their deliberations of real estate finance companies and the manner of making decisions or recommendations and controlling their activities.
(m) Adoption of accounting systems to be followed by real estate finance companies and templates for the preparation of financial reports and statements and the way they are submitted for submission to the Authority.
n. Adopt the basis for the organization of accounting books and records of the Board and identify the data to be included in the books and records.
Q. Identification of records for which real estate financing companies or real estate finance companies are committed to organize and maintain, as well as the data and documents to which the Authority must be provided.

Article 6

First, the following may not engage in the real estate financing activity provided for in this Act directly, provided that it is registered in a registry prepared by the Authority for this purpose:
a. Legal persons from the public or private sector who enter real estate financing activity within their purpose.
b. Real estate finance companies.
c. A decision to be made by the Minister.
d. The licensed and registered banks registered with the Central Bank of Syria may engage in real estate finance to the extent that does not interfere with the basic monetary system and the decisions issued by the Monetary and Credit Council.
Second: The executive instructions show financial standards for those who undertake real estate financing and, in particular:
1. The method used to evaluate the assets of the company.
2. Setting the minimum contribution rights ratio.
3. Rules necessary to ensure proper functioning.
4. Size of the funding portfolio.

Article 7

The governing body shall:
a. Board of directors.
b. Director General.

Article 8

a. The Governing Council shall consist of:
1. Minister President
2. The Director-General of the Commission as Vice-Chair
3. Associate Minister of Finance Member
4. Associate Minister of Economy and Trade
5. Associate Minister for Tourism
6. Deputy Governor of the Central Bank of Syria Member
7. Deputy Chairman of Securities and Financial Markets Board Member
8. Director General of the Insurance Supervisory Authority Member
9. Director General of the Public Housing Corporation Member
10. General Manager of the Public Authority for Development and Real Estate Investment Member
11-Three experts, who are most experienced and competent in real estate finance, are members who prefer to be employees of real estate finance companies or banks related to real estate finance, members named by the Prime Minister on the Minister's proposal for a period of three years, which can be extended. For once similar.
b. The Prime Minister shall issue a decision to nominate the President and the members of the Board of Directors.

Article 9

The Governing Council is the competent authority to draw up the policy of the Commission for the purpose and for which it has done so:
a. Development of the policy of UN-Women and approval of plans and programmes for its implementation.
b. Adoption of the draft regulations and decisions necessary for the application of the provisions of this Law to be issued by decision of the Minister.
c. Adoption of the draft annual budget of the Authority.
d. Examination of applications for licensing of funding companies and proposal for approval.
e. Preparation of draft legislative instruments required by the organization of real estate financing and submitted to the Prime Minister for completion of the reasons for their issuance.
To study all the issues that the President of the Board considers to be on the Board's issues.
g. Oversee the work of the Real Estate Evaluation Experts Licensing Committee, which will be formed later, and work to raise the profession in line with the expectations of its beneficiaries.
h. The proposal of a system of rewards and incentive incentives for the workers in the body includes the basis and rules for granting them, blocking them and their limits, to be issued by a decision of the Prime Minister and excluded from the ceilings stipulated in the laws and regulations in force.
i. Adoption of the annual report.
j. Proposal of the allowances to be met by the Board.

Article 10

a. The Governing Council shall meet at the invitation of the President of the Council or at the request of the majority of its members at least every two months or whenever the need arises.
b. Meetings of the Board of Directors shall be considered lawful only in the presence of two thirds of the members, including the President or the Vice-President of the Board in the absence of a legal absence.
c. Decisions of the Governing Council shall be taken by a majority vote of the members and in the event of equal votes by the President.
d. The President of the Council shall convene the Governing Council to consider specific matters if it receives a written letter from at least one third of the members of the Council within fifteen days of the date of the request.
The board of directors may use the opinions of experts or advisers in the field of real estate finance or consultancy services in the field of real estate finance, contracting with them when needed, and determining their salaries and rewards in accordance with the regulations in force.
The Board of Directors proposes a Secretary to serve on the Board and shall determine his/her functions by decision of the Minister.

Article 11

a. The Director General of the Authority shall be appointed by decree setting out his or her remuneration and compensation on the proposal of the Minister.
b. The Director-General shall have an associate or more associate and the distribution of functions between the two staff members by decision of the Minister upon the proposal of the Director-General.

Article 12

The Director-General shall assume the following functions and powers:
a. Representation of the body before the judiciary and others.
b. Implementation of Governing Council resolutions.
c. Administration and development of working methods and strengthening of its machinery.
d. Grant of incentive schemes and incentives as provided for in article 9, paragraph "h".
e. To propose draft regulations for the work of the Board and submit them to the Governing Council for approval.
The draft annual budget of the Board has been submitted and submitted to the Governing Council for approval.
g. Contract of expenditure, order and liquidation.
h. Follow-up to the implementation of UN-Women plans and supplies.
i. The Director-General may delegate some of his powers and terms of reference to his staff and central directors of the Commission.

Article 13

The body has an independent budget with a special branch in the state budget under the number 19208 and is linked to the state budget according to the principle of Sawafel.

Article 14

The financial resources of the Entity shall consist of the following sources:
a. The allowances that the Authority meets and which verifies its activities and which will be determined in accordance with the financial regulations of the Commission.
b. Assistance, grants and donations.
c. Annual subsidization in the State budget.

Article 15

The body shall determine the amount of the following allowances and shall be amended by decisions issued by the Minister upon the proposal of the Governing Council.
a. An annual allowance for those working in real estate finance.
b. Subsistence allowance for the examination of applications for licensing of real estate companies
c. Subsistence allowance for real estate finance companies, branches and offices.

Article 16

a. The Board shall appoint auditors from audit companies accredited by regulation issued by the Board.
b. The accounts of the Board are subject to audit by the Board of Auditors adopted by the Board to review the Central Financial Supervisory Service, which submits a report to the Minister.

Article 17

The decision to grant license to real estate companies is issued by a Cabinet decision based on the proposal of the board of directors.

Article 18

It is forbidden for any of the employees of the authority to have a direct or indirect benefit in any business of real estate finance companies or real estate or real estate assessment experts for the duration of its work. This ban lasts for two years after the explosion of service and is committed to reporting to the Authority. For any benefit that may arise during the duration of his or her work under legal accountability.

Article 19

a. Real estate financing activity shall be in accordance with the criteria and controls established by the executive instructions of this law and regulatory decisions issued by the Authority and to ensure that funding is commensurate with the financial capacity of the beneficiary, in the light of the general situation of the real estate market in the Arab Republic Syrian.
The operational instructions set out the rules and procedures for real estate financing, credit limits and the ratio of funding to the value of the property, estimated by one of the evaluation experts listed in the tables prepared by the Board for this purpose.
b. The banking aspect of the work of real estate finance companies is subject to the regulations and decisions issued by the Monetary and Credit Council.

Article 20

a. The assigned workers and those who control the violations of this law and their executive instructions shall enjoy the capacity of the judicial officer. They shall be nominated by the Minister and they shall exercise their work after they have been sworn in before the President of the Civil Start Court in their area of work to do so. By doing their job honestly and honestly.
b. They are entitled to access all records, books and documents of the relevant authorities.
c. The officials of the relevant authorities shall facilitate the operation of the personnel of the judicial officers referred to in the seizure of offences and the necessity of restricting them to the provisions of the laws in force and the provisions of professional secrecy.
d. Contraventions are registered and submitted to the Director General in preparation for the request to initiate proceedings against offenders in accordance with the provisions of this Law, at the request of the Director General.

Article 21

The following penalties are imposed on violators of the provisions of this Act:
a. A penalty of three months' imprisonment and a fine of not less than 500 thousand Syrian pounds or one of these penalties shall be punishable by the real estate financing activity provided for in this law without obtaining the necessary authorization.
b. A fine shall be punishable by a fine of 300 thousand Syrian pounds and for the confiscation of the benefit of any person who contravenes the provisions of article 18 of this Law.
c. Taking into account the provisions of paragraphs "A, B" referred to above, a person shall be sentenced to imprisonment for one month and a fine for less than 400,000 Syrian pounds, or one of these penalties, in violation of the provisions of this law during the course of real estate financing activity.

Article 22

As no provision is provided in this law, the body shall be subject to the laws and regulations applicable to public bodies of a administrative nature and shall apply to the employees of the body, the provisions of Law No. 50 of 2004 and its amendments.

Article 23

The Executive Instructions for this Law shall be issued by decision of the Prime Minister on the proposal of the Board of Directors.

Article 24

This law is published in the Official Journal and is considered effective from the first month following the date of publication.
Damascus in 141-1431 A.H., 330-12-2009, my birth.

President

Bashar al-Assad

Lawyer Naam Al-Masri