President

As approved by the People's Assembly at its meeting held on the date of 21-6-1430 A.H., it was approved on 14-6-2009, my birth.

The following are issued:

Article 1

Cooperative Agricultural Bank loans are exempted in Hasakah Governorate granted for the cultivation of the winter season 2008-2009 and its previous winter seasons, as well as scheduled loans. Legislative Decree No. 69 of 2004 Uncollected demurrage and interest rates that increase the interest rate calculated in a simple interest method without capitalization of interest are from the period prior to the date of promulgation of this Act.

Article 2

Schedule of capital credits specified in Article (1) This Law is as follows:

a. For ten years in equal annual installments and standardized due dates, it is worth the first instalment of 1-9-2010 to be paid prior to this date for the loans granted for the winter season 2006-2007, the previous winter seasons and the loans granted to the rain-fed agriculture in The 2007-2008 and 2008-2009 winter seasons as well as previously scheduled loans in Legislative Decree No. 69 of 2004.

b. For seven years, on equal annual installments and standardized due dates, it is worth the first instalment of 1-9-2009 to be paid prior to this date for loans granted to irrigated agriculture in the 2007-2008 and 2008-2009 winter seasons.

Article 3

Scheduled loans under this Act shall be subject to the interest rate applicable to the short-term loans of the Cooperative Agricultural Bank as of the date of its issuance and the interest on these loans is calculated in a simple interest method without capitalization of interest.

Article 4

Scheduled loans continue with the same prior collateral, and the debtors, all of whom are issued or as a loyalty or heirs, remain committed to the repayment of the debt until full delivery.

Article 5

Interest earned on the interest payable to loans covered by the provisions of this Law shall be regarded as reimbursement of the principal of the debt and the debtor shall not be entitled to recover it.

Article 6

The sums due to the Central Bank of Syria are based on the Cooperative Agricultural Bank to settle the loan of loans granted for the winter season 2008-2009 in Al-Hasakah Governorate, for a period of ten years for loans granted to rain-fed agriculture, for a period of seven years for loans granted to irrigated agriculture. Comb with Article (2) This is the law.

Article 7

Legislative Decree No. 29 of 2009 does not apply to loans covered by this Act.

Article 8

The nominal capital of the Cooperative Agricultural Bank is increased from the sum of 10 billion L.S. to the sum of 15 billion L.S.. This increase is from the annual net profits of the bank and from the funds allocated by the state to it according to the available resources.

Article 9

The Minister of Finance shall issue instructions to implement the provisions of this Act.

Article 10

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

Date 21-6-1430 A.H., June 14, 2009

President

Bashar al-Assad

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