Syrian Bank to Lend to Military, Government Staff, Thawra Says

Syria’s Saving Bank will resume issuing loans to low-income government employees and the military, Al-Thawra newspaper said today, citing state-run Sana news agency.

Haifa Younes, the bank’s general manager, told Sana that preparations are being made at branches and committees were being formed to resume lending after Eid al-Fitr, which falls around Aug. 19, the newspaper said. It didn’t say when lending stopped.

Many banks in Syria are refusing to offer credit as the uprising against President Bashar al-Assad’s government that began in March 2011 drags on.

To contact the reporter on this story: Donna Abu-Nasr in Beirut at dabunasr@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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