The General Establishment of Mail Saving Fund was established pursuant to Legislative Decree 119 dated 31/07/1963;
 it became the Saving Bank pursuant to Regulatory Decree 485 dated 21/10/2000.

- It aims at accepting saving deposits, managing, investing and paying them  back to their owners.
- It has an artificial personality and works under state’s supervision and guarantees.
- The institution is independent administratively and financially.
- Head office is in Damascus. It has 57 branches and offices all around the country, distributed as follows:

Head Office

Board President General Manager

Board Vice President Deputy General manager

Investment Directorate

Internal Supervision Directorate

Technology Directorate

Legal Affairs Directorate

Administrative Affairs Directorate

Finance Directorate

Damascus Branch

Daraa Branch

Sweida Branch

Quneitra Branch

Homs Branch

Hama Branch

Idleb Branch

Aleppo Branch

Tartous Branch

Lattakia Branch

Deir-Ezzor Branch

Al Rakka Branch

Al-Hasakeh Branch

Damascus Rural Area Branch

Mazzeh

Sanamein

Salkhad

-

Qsseir

Salamieh

Jesr Eshoghour

Jamiliah

Banyas

Jableh

-

Athowra

Qameshli

Attal

Al-afif

Bussra

Shahba

-

Talkalakh

Mhardeh

-

Suleimanieh

Safita

Qurdaha

-

-

-

Qtaifeh

Qassaa

Kherbet ghazaleh

Qraia

-

Marmarita

Sqeilbiah

-

-

Dreikish

Haffeh

-

-

-

Nabek

Ren eddein

Izraa

-

-

Nassereh

Messiaf

-

-

Sheik Bader

-

-

-

-

Qatana

Yarmouk

-

-

-

-

Tel Sahlaf

-

-

Kadmous

-

-

-

-

Deir atteiah

Naanaa

-

-

-

-

-

-

-

Almashta

-

-

-

-

-

Salehiah

-

-

-

-

-

-

-

Tartous

-

-

-

-

-

Interest rates for deposits according to the account nature:
1. Saving account: 8%
2. Current account (checks): 4%
3. Infant’s account: 9%
4. Deposits of two kinds:
- Six months deposit: 8.5%
- One year deposit: 9%
5. Banking drafts within the bank’s branches
6. It is permissible to share any other person any kind of accounts mentioned above.

Privileges for customers:
1. All bank’s operations and dealings relating to them are exempted from stamp fees whether they refer to the depositors or to the bank itself. All interests resulting from deposited money are also exempted from income tax on current capital revenues.

2. It is not permissible to oppose decision of competent court relating to returning deposits to their owners or to one of the beneficiaries or children agent. If the regaining demander is incompetent or sentenced in absentia, juridical rules are applied.

3. It is not permissible to distrain
 sums, and their interests, deposited at the bank during depositor’s life or after his death. It is permissible to waive those sums pursuant to situations and procedures shown in the bank’s regulations.  

4. All operations that a dealer makes with the bank are secret and it is forbidden to give others any information unless the competent juridical authorities or creditors demand it after presenting the legal documents showing their rights.

5. Depositors have the right to draw or deposit money in a branch or office different from the one keeping their accounts without any commission.

6. It is permissible to open an account under an artificial personality name provided that documents proving the legality of this artificial personality are presented in addition to a decision naming an authorized person to deal with the bank.

7. Interests of checks and saving accounts are calculated every 3 months and added automatically to the dealer’s account. 
8. The bank makes a periodical lottery (every 3 months) on dealers’ accounts.

9. Every legally competent and over 16 underage person has the right to open an account at the bank.

10.  Every under 16 infant has the right to open infant saving account provided that dealing will be
 through infant’s legal guardian.
11. Deposits are exempted from inheritance tax.

Bank’s investments:
1. Loans:
1. The bank grants loans to companies subject to Law No.10 of 1991.
2. Tourist establishments licensed by Ministry of Tourism.
3. It shares capitals of mixed and joint-stock companies.
4. It also finances private universities and institutes.

2. Bank’s main investments:
1.  Public Debt Fund.
2. Investment bonds.
3. Karnak Co.
4. Al-Sharq Co. for Tourism and Transport.
5. Bab-el-Faraj Co. for Tourism and Hotels.
Bank’s address: Syria – Damascus – Merjeh – Al-Furat St.
B.O. Box: 5467
Fax: 224 4909 – 245 3471
Tel: 222 8403
e-mail: s.bank@scs-net.org
            post-gm@net.sy